TWT coin The price shows a sharp increase in bullish momentum in the first few days of October. With the spirit of Uptober clearly visible in the TWT uptrend, the possibility of a long-term uptrend for Trust Wallet tokens is rapidly increasing.
Koinfinans.com As we reported, before the uptrend rally, the TWT coin price moved sideways between $0.80 and $0.95. However, the recent increase in buying pressure has caused this advisory range to move upwards and the retest phase is currently ongoing.
With a remarkable 25% jump in the last 12 days, TWT coin price surpassed the 50-days EMA and approached the 200-days EMA. As we approach the 1 dollar mark, altcoin The price action crossed $1 on October 8. However, due to higher price rejection at $1.05, prices are moving back towards the 200-day EMA.
Moreover, the extraordinary uptrend increases the possibility of a golden crossover on the daily chart. This will increase the chances of an uptrend rally passing through multiple resistance zones.
Currently, TWT price is trading at $0.96 with an intraday bounce of 1.12% to challenge the 200-day EMA. With such intraday growth, the possibility of a post-test reversal from the $0.95 mark is incredibly high.
Technical indicators
RSI indicator: The daily RSI line is rising along with the 14-day SMA and approaching the overbought limit.
EMA: The increasing proximity of the 50-day and 200-day EMA signals a potential gold crossover.
Will TWT Price Continue Above the 50-Day EMA?
Considering that the uptrend continues above the $1 mark, the possibility of a prolonged rise to $1.25 is quite high. Therefore, TWT price shows the potential for a more than 25% jump in current market value.
Conversely, an increase in selling pressure due to increased profit booking could lead to a retest of $0.90.