<em><strong>The TWT Technical Analysis shows a bullish breakout rally of a long-coming resistance trendline reversing from the psychological mark of $1 for a retest.</strong></em>

The TWT price action exhibits a bullish failure to exceed the psychological mark of $1 due to excessive selling resulting in a bearish turnaround. Currently, the price action shows a lower price rejection candle retesting the 50-day EMA. So, will the post-retest reversal rally break above the $1 mark?
<h3>Key Points:</h3>
<ul>
 	<li>The Trust Wallet Token price action shows an uptrend reversing from $1.</li>
 	<li>The spike in trading volume supports the breakout candle.</li>
 	<li>The intraday trading volume in Trust Wallet Token is $30.98 million.</li>
</ul>
<img src="https://s3.tradingview.com/snapshots/y/YC6RyvdL.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/YC6RyvdL/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>TWT Technical Analysis</h2>
As we mentioned in our <a href="https://www.cryptoknowmics.com/news/twt-technical-analysis-twt-buyers-struggle-at-200-day-ema" target="_blank" rel="noopener">previous analysis</a>, the TWT price action reverses from the 200-day EMA to break above the long-coming resistance trendline. The bullish breakout candle shows a price jump of 7.17% to reach the psychological mark of $1.

The price action displays a 12% jump in the last four days, leading to a streak of bullish candles. Furthermore, the lower price rejection in the present daily candle projects a high possibility of a post-retest reversal from the 50-day EMA.

Additionally, the price action exhibits a rounding bottom pattern with a neckline at the psychological mark of $1. The bullish breakout of the $1 mark will result in a price jump to the swing high at $1.18, accounting for an 18% rise.

Conversely, the bearish trend will dump the TWT prices to the $0.95 mark, endangering the 50-day EMA.
<h2>Technical Indicators</h2>
The RSI slope crosses above the 14-day SMA and the halfway line, reflecting a boom in underlying bullishness. Additionally, the bullish crossover between the fast and slow lines reflects an increase in buying pressure.

Therefore, the technical indicators highlight the increasing demand for the Trust Wallet Token in the recovering market. As a result, the TWT technical analysis signals a buying opportunity at the current market price.

Resistance Levels - $1 and $1.18

Support Levels - $0.95 and $0.90

TWT Technical Analysis: Retest Phase Teases Cup And Handle Pattern 

The TWT technical analysis shows a bullish breakout rally of a long-coming resistance trendline reversing from the psychological mark of $1 for a retest.

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 Technical Analysis: Retest Phase Teases Cup And Handle Pattern

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