Trust Wallet (TWT) Eyes Breakout Above $0.9677, Bulls in Charge?
The price of Trust Wallet (TWT) is showing signs of a potential breakout as bulls take control.
Despite a 4.51% retreat today, TWT had rallied by 7.26% to close at $0.381 yesterday. It is currently hovering around the 20-day exponential moving average (EMA) of $0.381.
The 50-day EMA, which stands slightly higher at $0.392, has been rejecting TWT’s attempts to move higher over the past four days.
The relative strength index (RSI) has pulled back to 49.35 today from yesterday’s 58.33, indicating fading upside momentum and bearish control.
The moving average convergence divergence (MACD) histogram remains flat at 0.002, signaling consolidation as positive and negative forces balance each other.
Fading Upside Momentum: MINA Price Stalls Below Key Moving Averages
The price of Mina Protocol (MINA) remains stuck in a trading range despite bullish attempts to break out.
MINA rallied by 7.26% to close at $0.381 yesterday but is now retreating by 4.51%. The 20-day EMA sits at the current price level of $0.381.
The 50-day EMA, located slightly higher at $0.392, has been acting as resistance for MINA over the past four days.
The RSI has dropped to 49.35 from yesterday’s 58.33, indicating fading upside momentum and prevailing bearish control.
The MACD histogram remains unchanged at 0.002, highlighting consolidation as positive and negative forces balance each other.
Hot Take: MINA Struggles to Break Out, Bulls Need Confirmation
MINA is currently facing resistance at the 50-day EMA of $0.392, making it difficult for the bulls to regain control.
If the price manages to close above the 20-day EMA at $0.381, it could indicate a potential breakout. However, traders should wait for confirmation before entering a position.
In terms of support and resistance levels, immediate resistance lies at the Fib 0.236 level of $0.391 and the stubborn 50-day EMA at $0.392.
If MINA fails to break these barriers, it risks entering a price discovery phase lower and potentially setting new all-time lows.
The key takeaway is that traders should be cautious and wait for a confirmed breakout before considering any bullish positions in MINA.
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Hot Take: MINA Struggles to Break Out, Bulls Need Confirmation
The Mina Protocol (MINA) price remains stuck in a trading range despite bullish attempts to break out. The 20-day EMA sits at $0.381, which is where the price is currently hovering. The 50-day EMA stands slightly higher at $0.392, which has rejected MINA’s upside attempts over the past four days. The RSI has pulled back today to 49.35 from yesterday’s 58.33. This shows fading upside momentum as MINA tries unsuccessfully to mount the 50-day EMA. A reading below 50 signals prevailing bearish control. The MACD histogram remains flat at 0.002, unchanged from yesterday. This highlights building consolidation as positive and negative forces counterbalance.
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