Cryptoknowmics
2022-09-22 17:38:13

TWT Technical Analysis: TWT Buyers Struggle At 200-day EMA

The TWT Technical Analysis shows a declining trend, under the influence of a resistance trendline, challenging the buyers at the 200-day EMA. The TWT price action displays a declining trend after reversing from the overhead resistance of $1.18, accounting for a price drop of 25%. The downtrend leads to the generation of a resistance trendline giving the bullish growth in check. Currently, the falling prices challenge the 200-day EMA at the crucial support level of $0.90. Key Points: The Trust Wallet Token prices show a power struggle at the crucial level of $0.90. The 200-day EMA fallout will result in a 10% fall. The intraday trading volume in Trust Wallet Token is $11.15 million. Source – TradingView TWT Technical Analysis The TWT price action displays a bearish turnaround from the $1.18 mark after facing an increase in selling pressure. The bearish reversal accounts for a price drop of 25% over the last few months leading to a price drop to the 200-day EMA. Currently resting at the $0.90 support level, the price trend struggles to sustain above the 200-day EMA. However, the 2.52% intraday growth results in a bullish candle reflecting a possibility of a positive turnaround with a morning star pattern. Therefore, short-term traders can expect a long entry opportunity to ride the reversal rally to the resistance trendline. If the buying pressure persists, the TWT market value will incline by 6.84% to reach the resistance trend...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.