TWT Price Prediction: Why Trust Wallet Token is up by 100% in a week?

TWT price prediction

If you’re looking for a mobile-based cryptocurrency and NFT wallet that doesn’t require you to entrust your funds to a third party, Trust Wallet is the perfect solution. Trust Wallet is a non-custodial wallet, which means your funds are always in your control. Plus, Trust Wallet supports a wide range of currencies and allows you to hold and trade NFTs securely. So if you’re looking for a secure and convenient way to manage your crypto assets, be sure to check out Trust Wallet. 

Over the last few days, the value of Trust wallet token has skyrocketed. The coin reached an all-time high of $2.68 last night and is currently up 126 percent in the last 90 days and nearly 215 percent year to date. But what is causing these enormous gains? The answer is straightforward: it’s a combination of investor fear following the FTX crash and recent tweets from Binance CEO Changpeng Zhao. Let’s go deeper.

Trust Wallet Token Price Analysis 

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Trust Wallet Token, or TWT, is a simple BEP-20 utility token that provides Trust Wallet users with a variety of benefits and incentives. Trust Wallet is a smartphone cryptocurrency wallet that supports a wide range of popular native assets, as well as popular tokens on the Ethereum, Binance, and TRON blockchains.

As crypto investors got skeptical of centralized exchanges, we have witnessed a transactional shift in terms of holdings and assets to non-custodial wallets including metamask and trust wallet as well as hardware wallets such as Trezor. This resulted in positive sentiments being created around non-custodial wallets who are having their native token including TWT. The TWT token surged more than 100% on weekly basis in which the bullish rally started from $1.00 end touched a high of $2.60. That being said, there are surely hidden opportunities present for crypto traders 

Trust Wallet Token Technical Analysis 

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The technical chart of trust wallet token price reflects on the all-time high of approximately $2.60 in this week. It could be observed that the token received positive sentiment as soon as the collapse of FTX went public. For obvious reasons, we can expect profit booking momentum by TWT holders which could TWT price a bit. Considering the technical indicators, the RSI level has soared to the overbought region which also suggests that TWT may face selling pressure in the near term. Same goes for the MACD level in which the levels are extremely soared after having a bullish crossover. Overall, the current price level might be a ideal level to book your profits if you are TWT holder before it declines back to normal levels. 

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