Trust Wallet Token (TWT) Soaring: October’s Bullish Momentum Continues
The Trust Wallet Token (TWT) has been experiencing a strong bullish trend in October, with a month-to-date increase of 37.15%. The cryptocurrency is currently trading above all major Exponential Moving Averages (EMAs), indicating the potential for further upward movement.
The 20-day EMA for TWT is currently at $0.9627, above the 50-day EMA of $0.8979 and the 100-day EMA of $0.8982. When shorter-term EMAs are higher than longer-term EMAs, it often indicates a bullish sentiment.
TWT’s Relative Strength Index (RSI) is at 67.22, slightly lower than yesterday’s 67.46 but still close to the overbought territory of RSI 70. This suggests that buyers are in control, although caution is warranted due to downward RSI movement.
The MACD histogram for TWT is at 0.0109, down from yesterday’s 0.0125 but still positive. This indicates a building bullish momentum that could drive the price of TWT higher.
Currently trading at $1.0640, TWT aims to consolidate around the support level of $1.0442 before attempting to break through resistance.
There is horizontal resistance between $1.1190 and $1.1337, which aligns with the reverse Fib 0.618 level of $1.1228. Breaking above this level could signal a strong uptrend.
Support for TWT lies between $0.9661 and $0.9809, reinforced by the reverse Fib 0.382 level of $0.9657 and the 20-day EMA of $0.9627. Holding above this support is crucial to avoid a price pullback.
Overall, TWT remains in a clear uptrend according to technical factors. The cryptocurrency appears poised to continue its ascent, although it may encounter temporary resistance and support tests along the way. It is important for TWT to maintain its position above the 20-day EMA at $0.9627 to sustain its bullish trajectory.
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The presale of $TGC tokens offers investors an enticing opportunity to acquire them at a discounted rate before the public launch.
Will the Bitcoin SV (BSV) Price Hold Above $40? Technical Indicators Suggest Positivity
The price of Bitcoin SV (BSV) is testing immediate resistance levels this week, indicating the potential for an upward breakout in the near future. After closing yesterday’s trading session at $35.94 with a 1.31% decrease, BSV has rebounded by 5.01% to reach $37.72 today.
BSV is currently trading within a resistance zone between $38.60 and $40.71 for the third consecutive day. This area corresponds to the key Fib 0.5 retracement level at $39.89, which represents a significant technical barrier.
Technical indicators for BSV suggest growing upside momentum that could push the price through its immediate resistance.
The 20-day EMA is at $35.29, crossing above the 50-day EMA at $33.94. When the shorter-term moving average surpasses the longer-term moving average, it often indicates a bullish sentiment.
In addition, the RSI has risen from yesterday’s reading of 65.27 to 69.51 today, approaching the overbought threshold of 70. The MACD histogram also shows increasing positive momentum, rising from 0.27 to 0.48 in the last 24 hours.
If the BSV price can break through the $40 resistance, it may attempt to test the next target at the Fib 0.382 level of $43.79. BSV briefly retested this resistance level today, reaching an intraday high of $43.50, but selling pressure has prevented a sustained breakthrough so far.
On the downside, initial support exists between $33.95 and $36.11, aligned with the 20, 50, and 100-day EMAs. A break below this area could lead to a retest of the swing low around $30.
With BSV stabilizing near a critical resistance confluence, the technical outlook remains uncertain. A decisive breakout above $40 or a breakdown below $34 will determine the short-term trend.
Traders are advised to trade within defined risk limits until a clear catalyst emerges for the price of BSV.
Hot Take: Trust Wallet Token (TWT) and Bitcoin SV (BSV) Show Strength in Bullish Momentum
Both Trust Wallet Token (TWT) and Bitcoin SV (BSV) have demonstrated strong bullish momentum in their respective markets. TWT has maintained an upward trend and is positioned for further growth, while BSV is testing key resistance levels with positive technical indicators.
TWT’s continued rise suggests that buyers are in control, although caution is necessary due to potential downward movement. Maintaining support levels will be crucial for TWT’s price stability.
TG.Casino’s integration of $TGC tokens on its Telegram casino app offers users an opportunity to earn passive income through staking and incentivizes gambling with reimbursements for net losses. The presale of $TGC tokens has already attracted significant investment, indicating potential growth in the crypto gambling sector.
BSV’s price is currently challenging resistance levels, and technical indicators point to further upside potential. Breaking through the $40 resistance will be a key milestone for BSV’s short-term trend.
Both TWT and BSV show promise in their respective markets, but traders should exercise caution and set defined risk limits when trading these cryptocurrencies.
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