<em><strong>The TWT price action shows a bearish reversal from $1.18, dropping below the 50-day EMA near $1. So, will this falling trend break under $0.90?</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Trust Wallet Token price has dropped by 15% in the last 72 hours.</li>
 	<li>The price action displays a triple black crow formation in the daily chart.</li>
 	<li>With a market cap of $394 billion, the intraday trading volume of Trust Wallet Token has increased by 22% to reach $17.88 million.</li>
</ul>
<h3>Past Performance of TWT</h3>
The TWT price action shows a bullish failure to cross above the $1.20 mark resulting in an evening star pattern leading to a sideways trend. The increased supply at $1.20 results in a downfall of 20% over the last two weeks and breaks under the psychological mark of $1. Moreover, the price action displays a triple black crow formation with a spike in <a href="https://www.cryptoknowmics.com/news/ripple-xrp-sees-massive-surge-in-trading-volume-amid-ongoing-lawsuit/" target="_blank" rel="noopener">trading volume</a>, reflecting a boom in selling pressure.

<span style="font-weight: 400"> <img src="https://s3.tradingview.com/snapshots/b/BLW0mw7U.png" alt="TradingView Chart" /></span>

Source - <a href="https://www.tradingview.com/x/BLW0mw7U/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>TWT Technical Analysis</h2>
The TWT price action displays lower price rejection in the daily candle, which is evident in the long tail formation, increasing the possibility of post-retest reversal. As the market price sustains above the 100-day EMA, the chances of EMAs maintaining a bullish alignment look promising.

As the selling pressure increases, the daily RSI slope fails to sustain above the halfway line. Moreover, the MACD indicator displays a declining trend in the fast and slow lines with an increasing bearish gap after the recent crossover event.

In a nutshell, the TWT Technical Analysis displays a high-momentum bearish trend challenging the 100-day EMA.
<h2>Upcoming Trend</h2>
TWT price trend experiences a high bearish influence teasing a drop below the 100-day EMA and the $0.90 support level. Traders can expect the fallout rally to reach the $0.83 support level.

However, the lower price rejection projects a bullish reversal possibility to test the overhead resistance at $1.04.

Resistance Levels: $1 and $1.18

Support Levels: $0.90 and $0.83

TWT Technical Analysis: Correction Rally Challenges 100-day EMA

The TWT technical analysis shows a bearish reversal from $1.18, dropping below the 50-day EMA near $1. So, will this falling trend break under $0.90?

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: Correction Rally Challenges 100-day EMA

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