TWT prices show a power struggle at the 100-day SMA as the selling pressure grows at the 50-day SMA. Will sellers break the support level of 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:
<ul>
 	<li>The TWT prices revert by 10% from the $44 support level.</li>
 	<li>The RSI slope trends lower below the 14-day SMA.</li>
 	<li>With a market cap of $419 Billion, the intraday trading volume of TWT has increased by 6.53% to reach $31.3 Million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/5/5l2FQNmd.png" alt="TWT/USD Price Chart" width="2314" height="1139" />

Source- <a href="https://www.tradingview.com/x/5l2FQNmd/">TradingView</a>
<h2>TWT Technical Analysis</h2>
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.
<h2>Technical Indicators</h2>
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

TWT Technical Analysis: Bearish Influence Weakens 100-day SMA 

TWT prices show a power struggle at the 100-day SMA as the selling pressure grows at the 50-day SMA. Will sellers break the support level of 100-day SMA?

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: Bearish Influence Weakens 100-day SMA

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