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...