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- 1 The TWT crypto asset is revealing bullish qualities and can accomplish more blossoming.
- 2 The RSI and EMAs suggest bullish outlooks regarding the TWT price.
Trust Wallet Token, or TWT, is a fundamental BEP-20 utility token that offers various recompense and perks to Trust Wallet users. Trust Wallet is a mobile crypto wallet that assists many usual native assets.
By holding the TWT tokens, the users can be delighted by the various advantages such as its lower and cheaper prices on buying crypto and using its decentralized exchange (DEX) services within Trust Wallet.
The users can even enjoy the liberty and a right to be involved in how the Trust Wallet is run and vote on plans for improving the app.
Furthermore, Trust Wallet Token is a utility token that basically adds more value to the users of the Trust Wallet mobile app, as it has no use outside of the Trust Wallet platform.
However, as a BEP-20 asset, Trust Wallet Tokens can be moved and relocated to any wallet that supports Binance Smart Chain assets, where they can be traded for other assets or used as payment for services.
Because it also gives voting rights and governance over Trust Wallet’s development and allows for cheaper DEX transactions and in-app purchases, TWT has gained value as a speculative asset.
TWT was also among the first tokens to launch on Binance Smart Chain (BSC), it is a fast and efficient blockchain for smart contracts and decentralized applications (DApps). This means TWT can be transferred with very low fees and almost instant transaction confirmations.
Trust Wallet Token is based on the Binance Smart Chain and uses a proven proof-of-stake (POS) consensus mechanism. This safeguards the network from many possible attacks, like 51% and Sybil attacks.
It also benefits from a large bug bounty program run by Binance, which rewards up to 000 in BNB to anyone who finds a flaw in Binance Chain and its main smart contracts.
Moreover, as a BEP-20 asset, TWT is protected by the wallet software that handles it. For Trust Wallet, this includes a security code lock and a 12-word recovery phrase.
Trust Wallet Token in a Parallel Channel, What’s Next?
The TWT crypto asset is revealing bullish qualities. It has indicated strong performance in the past month, and three months, by 6.08%, and 60.25% respectively, thus inferring a steadfast upward trend.
At the time of publishing, TWT crypto had registered a surge of 0.93% in the last 24 hours, and was trading at $1.2708.
Since then, the TWT crypto attained the critical $1.050 mark on the chart and is currently in a parallel channel.
TWT crypto is poised for a spectacular rally, as it prepares to smash the resistance level and soar to new heights from the current support zone.
Furthermore, the TWT asset is showing bullish strength and potential as it stays above major EMAs and the volume profile’s high volume graph line.
The RSI and MACD show no signs of overbought conditions, suggesting that the asset has more room to grow. Therefore, if the demand for the TWT remains high, the asset price could bounce back from the current level. The next goal for the TWT price is to reach $1.40.
However, if the crypto price fails to stay above the $1.10 level, it could decline further.
Summary
Trust Wallet Token price highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The RSI and EMAs suggest bullish outlooks regarding the TWT price on the daily chart. If the demand for the TWT remains high, the asset price could bounce back from the current level. The next goal for the TWT price is to reach $1.40.
Technical Levels
Support Levels: $1.10
Resistance Levels: $1.40
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
