TWT Price Analysis: Will TWT Rise 25% This Uptober?

The TWT price displays a sharp increase in bullish momentum in the first few days of October. With the spirit of Uptober clearly visible in the TWT uptrend, the possibility of a prolonged uptrend is skyrocketing for Trust Wallet tokens. 

Before the uptrend rally, the TWT coin price moved sideways between $0.80 and $0.95. However, the recent surge in buying pressure led to a bullish breakout of this consultation range, and currently, the retest phase is in motion.

With a phenomenal jump of 25% in the last 12 days, the TWT coin price exceeds the 50-day EMA and approaches the 200-day EMA. As it approaches the $1 mark, the coin price action did cross $1 on 8th October. However, due to the higher price rejection at $1.05, the prices return to the 200-day EMA. 

Furthermore, the phenomenal uptrend increases the possibility of a golden crossover in the daily chart. This will increase the chances of an uptrend rally crossing above multiple resistance zones. 

Currently, the TWT price is trading at $0.96 with an intraday jump of 1.12% to challenge the 200-day EMA. With such an intraday growth, the possibility of a post-test reversal from the $0.95 mark is incredibly high.

Technical indicators:

RSI indicator:  The daily RSI line is rising higher with the 14-day SMA and is moving closer to the overbought boundary. 

EMA: The increasing proximity of the 50-day and 200-day EMA signals a potential golden crossover.

Will TWT Price Sustain Above The 50-Day EMA?

Considering the uptrend sustains above the $1 mark, the possibility of a prolonged uptrend to $1.25 is highly possible. Therefore, the TWT price shows a potential for a jump of more than 25% at current market value.

Conversely, an increase in selling pressure due to heightened profit booking can lead to a retest of $0.90.