The trading volume of Trust Wallet Token (TWT) has experienced an impressive increase of 1429% within the last 24 hours. TWT has surged by 14% over the course of 24 hours, reaching its highest point in two months.
Trust Wallet Token (TWT), the utility and governance token native to Trust Wallet, a widely-used noncustodial cryptocurrency wallet, has garnered significant attention in the crypto market by recording an impressive 14% surge in value over the past 24 hours. It also achieved a two-month high, reaching $0.934 in price.
These notable developments coincide with a recent post from the Trust Wallet team on X, which teased forthcoming developments. Of particular interest, the post included the hashtags “FreedomFoundations” and “TrustYourself,” sparking considerable curiosity within the community and fueling speculation about the nature of the impending announcement.
The countdown is on. #FreedomFoundations #TrustYourself pic.twitter.com/QXNeUSSqEx
— Trust Wallet (@TrustWallet) October 4, 2023
It’s important to note that TWT had encountered a challenging bearish trend over the past month, hitting a low not seen in three months at $0.7325 on September 11. However, the first week of October has witnessed a remarkable turnaround, with TWT experiencing an impressive 19% surge in just seven days.
One of the most remarkable aspects of TWT’s recent performance is its trading volume, which has seen a remarkable spike of 1429% within the past 24 hours, resulting in a total trading activity of $177 million. Furthermore, TWT is now just 67% away from its all-time high of $2.72, a record set ten months ago.
Assessing TWT’s Positive Momentum
A closer examination of TWT’s recent price movements highlights a prevailing bullish trend observable on the daily chart. Notably, the 50-day Exponential Moving Average (EMA) is presently situated at $0.8185, positioned below the current trading price. Furthermore, the daily Relative Strength Index (RSI) stands at 75, signifying an overbought condition in the market.
Overall, traders maintain an optimistic market sentiment, with many envisioning the potential for TWT to advance further into the $0.9724 to $1 range, allowing for additional gains. However, it’s crucial to exercise prudence and bear in mind that a decline below the $0.7731 level may potentially challenge this bullish outlook, leading to a retest of the $0.7490 support level.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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