TWT Technical Analysis: Channel Breakout Rally Jumps 30%

TWT price action shows a falling channel breakout rally gaining momentum and eyes to breach the psychological mark of $1. Key technical points: The TWT market price has increased 21.80% over the past 24 hours. The price action shows a breakout rally gaining momentum to reach $1. The 24-hour trading volume of Trust Wallet Token is $55.45 Million, indicating a hike of 133%. Past Performance of TWT As mentioned in our previous article, TWT prices surged phenomenally after the falling channel breakout. The post-retest reversal rally from the broken resistance trendline resulted in a 30% jump to reach the $0.90 mark. Moreover, the price action shows a triple white soldier pattern teasing a price jump above the $1 mark. Source- Tradingview TWT Technical Analysis  TWT price action shows a jump in market value supported by a jump in trading volume, reflecting a high momentum uptrend in motion. The bullish breakout rally results in a reversal in the DMAs, resulting in a bullish crossover of 10 and 50-DMA. Moreover, the price surpasses the 200-DMA and hints at a golden crossover. The daily RSI’s slope jumps to the overbought boundary as the underlying bullishness grows phenomenally. Moreover, the 14-day SMA crosses the halfway line, reflecting the solid bullish sentiments fueling the uptrend. The MACD and signal lines cross above the zero line in a bullish alignment with a rising trend in the MACD histograms. Hence, the indicator projects a potential price jump above $1. In a nutshell, the technical indicators support the price action and turn the TWT technical analysis extremely bullish. Upcoming Trend If the buying pressure continues, TWT prices will continue to soar, and traders can expect the rally to reach the psychological mark of $1. Resistance Levels: $1 and $1.20 Support Levels: $0.83 and $0.73

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