Will Trust Wallet Token Continue Straight Up To $3.45

2 de dez. de 2022

The really high volume here on this chart reminded me of Band Protocol, the analysis we shared earlier...

Now, Trust Wallet Token (TWTUSDT) hit a low in May 2022 and has been on an uptrend since.
In the past few weeks, we see a strong bull-run taking place, within a bear market.

Q: Can it continue growing and hit $3.47?
A: It depends.

As we can see from the chart above, the Fib. extension resistance 1.618, the Golden Ratio, is set at $2.318.

TWTUSDT hit this level but produced a long upper wick/shadow just two weeks ago.
This is an important level and can decide if this altcoin pair will retrace or continue moving straight up.

If this level can be taken out/conquered, prices moving and closing above it, we can see another impulse which would take prices to $3.45.

But if instead TWT fails to break this level, a correction can easily take place (red arrow).

So far it is looking like the important resistance will be challenged again.

Check the chart for additional information.
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Namaste.