TWT Technical Analysis: Bearish Influence Weakens 100-day SMA 

The bearish breakdown of the symmetrical triangle pattern in the daily chart results in a price drop to the 100-day SMA. However, we see a post-retest reversal from the 50-day SMA challenging the buyers at the 100-day SMA. Hence the possibility of a downturn continuation below the $0.90 mark increases.

Key Points:

Source- TradingView

TWT Technical Analysis

The TWT prices break below the ascending demand zone in the daily chart to test the 100-day SMA after facing a position at the $1.18 horizontal level. The bearish breakdown rally retains the 50-day SMA before facing higher price rejection, teasing a downtrend continuation.

The price action displays a sideways continuation between the 50 and 100-day SMA close to the $0.95 mark. Hence, a breakout of either side will unleash the trapped momentum, giving an entry spot to the sideline traders.

A breakdown of the 100-day SMA seems more likely as the selling pressure grows, which will test the $0.083 support level.

Conversely, a bullish breakout of the psychological mark of $1.0 will lead to a price jump to the $1.18 overhead assistance.

Technical Indicators

The RSI slope continues a downtrend continuation within the influence of the 14-day SMA but develops a sideways trend in the nearly oversold zone.

The MACD indicator Displays a declining trend in the fast and slow lines, but the decreasing bearish gap increases the possibility of a bullish crossover.

Hence, the technical indicators reflect a growth in the underlying bullishness retaliating against the new bearish trend.

Resistance Levels: $1 and $1.18

Support Levels: $0.90 and $0.83