The Trust Wallet Token price has experienced a small bullish wave in the past few trading sessions, forming a continuation pattern. The 4-hour chart shows that price has been gradually moving higher and appears to be nearing the $3.0 level as its surge gains momentum.
The TWT token is currently valued at $2.39, which represents a 3.9% gain over the last 24 hours. TWT coin has a trading volume of $44,180,329.08 and the trading volume has decreased by over 7%.
TWT/USD Technical Analysis on a 4-hour chart
The TWT/USD pair has been moving higher as per the 4-hour chart and appears to have formed a continuation pattern known as an ascending triangle. This occurs when price support starts forming at a lower level but the resistance remains at a constant level. However, in this case, the price barrier is found near $2.7.
The TWT/USD pair is supported by the 50-day simple moving average (SMA), which has helped to cushion any steep declines in recent trading sessions. The RSI momentum indicator shows that bulls have taken control of the market and could push prices higher in the near term.
Looking ahead, traders should watch out for a breakout of the $3.0 level, which might lead to further gains in Trust Wallet Token price towards the $3.5 resistance area. On the downside, support is found near the 50-day simple moving average and a break below this could see TWT/USD fall back to its previous consolidation zone near $2.30.
The market volatility for the TWT/USD pair is currently high as evidenced by the bulging Bollinger bands. The ATR indicator shows that price volatility is expected to increase as the market movement for Trust Wallet Token intensifies.
The Trust Wallet Token price appears to be gaining momentum and might see further gains in the near term. Technicals suggest that traders should watch out for a breakout of $3.0, which could lead to further upside in price. On the downside, support is found near $2.5 and a breakdown below this could see TWT/USD fall back to the $2.30 level.
