The Trust Wallet Token Spikes 11%
The Trust Wallet Token price surged over 11% in the past 24 hours to reach $1.24 as of 5:45 am EST. This was driven by investors trading the altcoin on Binance futures, leading to a 510% increase in its trading volume, totaling over $188 million.
Trust Wallet Token Price and Outlook
The surge elevated the altcoin’s value above the $1.1715 barrier, potentially leading to another price increase within the next 24-48 hours. However, indicators suggest that the positive trend might be nearing its end. Traders usually short an overbought cryptocurrency like TWT due to downside potential.
Risk of a Steep Drop
A break below $1.1715 may lead to TWT retracing to a positive trend line and then falling to the next support level at $0.9950. A daily close above $1.1715 could invalidate this bearish outlook.
Simplifying Cloud Mining
Bitcoin Minetrix is reducing startup costs and lowering barriers to Bitcoin (BTC) cloud mining with its stake-to-mine model, addressing current concerns and limitations related to cloud mining.
Set to Ride the BTC Wave
With BTC’s growing hype and Spot ETF applications being filed, Bitcoin Minetrix is well-positioned within the cloud mining space. The project’s native token BTCMTX will generate returns for investors and enable token holders to earn passive income in BTC through Bitcoin Minetrix’s mining platform.
Hot Take: A Bright Future for Trust Wallet Token?
As investors wait for confirmation of TWT’s future price movements, it’s essential to consider the promising project’s potential amidst increasing investor interest in cryptocurrency.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.