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- 1 TWT price prediction suggests the token may show a bounce back in December.
- 2 Trust Wallet Price lost the bullish momentum and returned to the $1.00 level.
- 3 The 50-day and 200-day EMA is sloping sideways indicating the price lacked direction.
TWT price prediction is mildly bullish for December and suggests the token price might show a bounce. It is taking support near the $1.00 level and buyers seem to be returning to the track again.
Trust Wallet Token price performed well in November and attempted to break out of the $1.800 hurdle. However, the attempt failed and the upmove ended as a bull trap.
TWT price faced sharp rejection from $1.800 and slowly eroded complete gains. The downfall halted near $1.00 and the presence of buyers was visible.
The 50-day and 200-day EMA is sloping sideways denoting that the price lacked direction. So, the price might spend some more time in a narrow-range consolidation.
On the higher side, $1.3940 will act as an immediate hurdle for the bulls. Until buyers succeed in breaking this hurdle, the price will lack momentum and trade with a bearish bias.
Currently, the TWT/USDT pair is trading at $1.1927 with a one-day decrease of -2.68%. In the last 24 hours, the trading volume increased by 51.58%, and the 24-hour volume to market cap at 8.87%.
Will TWT Price Retest the November High?
TWT price is trying to rebound from the lows to bring back the confidence of long-term investors.
The price action says till TWT sustains above $1.00 the buyers will remain active and restrict the downside. So, aggressive traders might take the risk and look to scalp for short-term gains.
However, the price will pick up momentum only when it succeeds in breaking the $1.3940 hurdle. The technical analysis suggests that the TWT price might consolidate for a few days before deciding on the further direction.
Trust Wallet Token Price Might Show a Bounce Back
Trust Wallet Token price might show a bounce back in December. The sellers are also active in the supply zone so it will be difficult for the buyers to dominate on higher levels.
Meanwhile, the overall crypto market is performing well which might positively impact the TWT in the future.
The MACD curve is near to the zero line and sloping sideways denotes more consolidation is possible. However, the RSI at 51 sloping upward and favoring the bulls denotes more scope for upside is open.
Conclusion
TWT price prediction is bullish for December and suggests a short-term bounce back is possible from the lows. However, the price will pick up momentum only after the $1.3940 breakout.
The analysis suggests that the Trust Wallet Token price may recover in the future. So, it’s better to play bullish bets till it holds the $1.00 level.
Technical Levels
- Resistance levels: $1.3940 and $1.8298
- Support levels: $1.0520 and $1.0000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
