<em><strong>TWT technical analysis displays a bearish trend breaking below the demand zone and the psychological mark of $1. Will the downfall drive the prices below $0.95?</strong></em>

After failing to sustain above the ascending support trendline, the TWT prices dropped by 17% within three weeks. Moreover, the correction phase breaks under the psychological mark of $1 and continues to test the 50-day SMA. So, will the SMA help the market value bounce back above $1, or a downtrend below $0.95 is inevitable?
<h3>Key Points:</h3>
<ul>
 	<li>The TWT price trend is displaying a correction phase gaining momentum and testing the supporting 50-day SMA.</li>
 	<li>The 50-day SMA breakout can result in a high momentum fall in market price to $0.90.</li>
 	<li>With a market cap of $407 million, the intraday trading volume of Trust Wallet Token has increased by 36% to reach $13.9 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/l/LYzKyPCM.png" alt="TWT/USD Price Chart" width="2047" height="1057" />

Source - <a href="https://www.tradingview.com/x/LYzKyPCM/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>TWT Technical Analysis</h2>
After a remarkable price jump of 30% within three days, the TWT prices took a bearish turnaround from the overhead resistance trendline near $1.20. The downtrend breaks below the psychological mark of $1.0 near the crucial demand zone accounting for a 17% price drop in the last three weeks.

Currently, the daily candle shows a 3% price drop and tests the <a href="https://www.cryptoknowmics.com/news/axs-technical-analysis-buyers-prepare-bull-cycle-within-sideway-range/" target="_blank" rel="noopener">buyers</a> at the 50-day SMA. Meanwhile, the crucial SMAs maintain a positive trend teasing a bullish crossover between 100 and 200-day SMA. However, the lack of any spike in the trading volume questions the credibility of the bearish trend.

Nonetheless, as the demand zone is broken, the possibility of a 50-day SMA increases that may soon test the crucial support level of $0.90. Conversely, a bullish reversal leading to lower price rejection in the daily candle can help the buyers regain dominance over the psychological mark of $1.0.
<h2>Technical Indicators</h2>
The RSI slope falls sharply below the halfway line reflecting a sharp increase in the underlying bearishness. The fast and slow lines display an increasing gap while maintaining a declining trend, ready to cross the zero line. Hence the technical indicators support the downtrend possibility of TWT prices under the 50-day SMA.

Resistance Levels: $1 and $1.10

Support Levels: $0.95 and $0.90

TWT Prices Break Demand Zone, Should You Consider Booking Profits?

TWT price action displays a bearish trend breaking below the demand zone and the psychological mark of $1. Will the downfall drive the prices below $0.95?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

TWT Prices Break Demand Zone, Should You Consider Booking Profits?

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