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Trust Wallet Token

Trust Wallet Token (TWT/USD) has been the darling of investors this week. Even though others have been sour about the weak crypto sentiment, the token’s value has risen by three times in the past week. In case you were wondering, TWT was boosted by the same reasons that led to the decline in cryptocurrencies. The…


Trust Wallet Token (TWT/USD) has been the darling of investors this week. Even though others have been sour about the weak crypto sentiment, the token’s value has risen by three times in the past week. In case you were wondering, TWT was boosted by the same reasons that led to the decline in cryptocurrencies.

The collapse of the FTX cryptocurrency exchange caused panic across crypto markets. Over $1 billion was lost to the market due to accelerated selling. Because FTX, a “sound” cryptocurrency exchange, collapsed unexpectedly. The exchange was able to position itself to assist other struggling crypto companies to stay above the ground, which is not surprising. It happened anyway and TWT buyers still had reason to be happy.

TWT hit an intraday high of $274 on November 14. The level was hit in a parabolic price move, as TWT overcame a low price of $1.0 as of November 10. After the collapse of FTX, whale accumulation increased. Investors began withdrawing money from centralised exchanges to fund self-custody wallets. Changpeng Zhao also supported the Trust Wallet’s post-FTX collapse.

TWT price outlook and analysis

Turning to the technical side, TWT has already been making slight but positive gains even before the FTX collapse. The latest cryptocurrency news just gave the token the catalyst to break above the $1. 31 resistance level.

TWT/USD Chart by TradingView

The moving averages indicate a bullish outlook for TWT. TWT is in the overbought zone according to the RSI. A correction is possible, and a bubble burst may occur. Trades are already at $2.0 and the token is initiating a correction.

Time to exit TWT?

Overbought conditions and a bubble burst could force a correction for TWT as investors adjust to the FTX scenario.

However, the price movement is positive for TWT as it has been making a slow bullish push before. If bulls defend key levels, the token should be added to the investor’s watchlist. The price is around $1. 36 and $1. 31 should be watched.

Where to buy TWT

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is known for its low trading fees and multiple trading options. These include margin trading, peer-to-peer, spot trading, and margin trading.


Get TWT today
with Binance

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone provides a user-friendly interface, secure user flow, and clear data to help users find the best exchange rates in the entire cryptocurrency market.


Swapzone
TWT: Buy Today


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