Trust Wallet Token Price Prediction as Team Teases Major Announcement – Where Next for TWT Price?
$TWT, crypto wallet platform Trust Wallet’s native utility token, has seen a major bullish breakout in the past two sessions, with price predictions becoming increasingly bullish.
The crypto token, which is issued on the Ethereum blockchain using the ERC-20 token standard, has pumped more than 20% over the past two days from under $0.80 per token to its current price in the $0.96s.
Hype and speculation about a major upcoming announcement that could add to $TWT’s utility by Trust Wallet appears to be the catalyst of the latest move higher.
In a cryptic tweet shared on Wednesday, the crypto wallet developer said “the countdown is on”, without elaborating on any further details.
The countdown is on. #FreedomFoundations #TrustYourself pic.twitter.com/QXNeUSSqEx
— Trust Wallet (@TrustWallet) October 4, 2023
That tweet alone appears to have been sufficient to encourage some degen traders to pile into the market and pay an elevated price of $TWT tokens in the hopes they might be front-running major future gains.
A major boost to $TWT’s utility could be just what the token needs to revive it from its 2023 bear market.
Whilst other sectors of the crypto market have rallied in 2023, Trust Wallet’s $TWT has lost more than 30% of its value, after failing to hold onto its post-FTX collapse gains that sent it as high as the $2.70s.
At the time, crypto traders were betting that FTX’s collapse would bolster demand for self-custody wallets, like those provided by Trust Wallet (thus also boosting $TWT’s demand and value).
Price Prediction – Where Next for Trust Wallet ($TWT)?
$TWT’s latest push higher has seen it break convincingly to the north of its 21, 50 and 100-Day Moving Averages, a strong signal of a positive shift in short-term market momentum.
However, $TWT has so far failed to break above key resistance around the $1.0 level, where the 200DMA, July and August highs and March lows reside.
A clean break above this area, as well as resistance at $1.05, would open the door for a sustained bull market.
Of course, much depends on the upcoming announcement from Trust Wallet, and whether it is met with a positive reaction from the crypto trading community.
Crypto Alternatives to Consider
The near-term outlook for Trust Wallet ($TWT) is potentially very strong, but crypto investors should always be looking to diversify their holdings.
An alternative and equally high-risk-high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of up-start crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.