Trust Wallet Token Analysis: TWT is En route to Attain a new ATH

Trust wallet token is one of the few cryptocurrencies that is experiencing massive increases in value. Over the last 48 hours, it’s edging toward a new milestone. It may retest it all-time high within the next 24 hours.

A look at the build-up over the last three days would strengthen convictions of better price performance. Following a bad start to the week on Monday, TWT staged a comeback the next day, earning its first green candle.

The biggest surge started during the previous intraday session. It opened trading at $2.34 but retraced to a low of $2.29. It rebounded and peaked at $2.47. Although it closed a little lower, it ended the cycle with gains of more than 4%.

The current intraday session is one of the most bullish the asset experienced. The day started at $2.45 but TWT dipped to a low of $2.38. It surged after it found support to a high of $2.71. Currently exchanging at $2.66, it may close with gains exceeding 8%.

The noteworthy thing about today’s price action is how close the token went to retesting its all-time high. As at the time of writing, the ATH is $2.74. There are that it may flip it to record a new one. A look at the indicators sheds more light on the issue.

Trust Wallet Token had a Bullish Divergence

The asset under consideration had some exciting developments. The first is with regard to the Moving Average Convergence Divergence. We noticed the 12-day EMA just intercepted the 26-day EMA.

This phenomenon is known as a bullish divergence. It signifies the start of a bullish round that may send the token to reclaim lost levels. If the same sentiment play out within the next 24 hours, we may see TWT record a new all-time high.

A look at the Moving Average also supports this claim. We noticed that the 50-day  MA is on the rise with the 200-day MA following up closely. On the other hand, a look at the Relative Strength Index passes a bearish vibe.

We see the metric fast-approaching 70 which means either of the two scenarios will play out. We may short term downtrend within the next 24 hours. TWT may also continue the uptrend and record a new ATH before a massive downtrend.