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Trust Wallet price has fallen 15% to trade at $1.45 as of 12:30 pm EST after its owner, Binance, launched its own Web3 wallet.
It is among today’s top losers and comes after Binance’s surprise announcement.
#TWT Did everyone expect more?
It is important to understand that this is the launch of Binance Wallet, a competitor to Trust Wallet. Hence the reaction…
Trust Wallet has already updated its logo pic.twitter.com/55Zz7N35FX
—Sprud (@SprudX) November 8, 2023
When Binance launched the Web3 wallet, the price of the Trust Wallet token dropped drastically.
UPDATE
We achieved around +95% profit by reaching our goal….#TWTUSDT #TWT #TWTBTC$BADGER $FP $LIT pic.twitter.com/MTolmRh6Og
– ATradeSniper (@Asnipercrypto) November 8, 2023
However, some traders remain optimistic that Trust Wallet will correct and record another local high.
wave 4 entering for #twt In the short term, it looks good for another leg up from here to the $2.35-$2.5 area for the local high.
Invalidation below $1.28. pic.twitter.com/VOwKPk8kSj
— Bull Master (@bull_run_100) November 8, 2023
TWT Price Forecast as Trust Wallet Gains New Industry Rival
The Relative Strength Index (RSI) executed a sell signal, crossing below the 70 line after TWT was massively overbought. The sell signal was twofold; The RSI also broke below the signal line (yellow band).
Further selling pressure below the current level could cause Trust Wallet price to fall below the psychological level of $1.4000 or so, surpassing the other psychological level of $1.2000. A breakout and close below this level would invalidate the bullish outlook as the price was rejected from this level for most of the first quarter of 2023.
In the most severe case, the slum could extend below the 50-day SMA at $1.0078. If this level does not hold as support, Trust Wallet price could fall below $0.9650 to test the 200 or 100-day SMA at $0.9544 and $0.9299 levels, respectively.
On the contrary, with the Awesome Oscillator (AO) still in positive territory and its histogram bars flashing green, the bulls have a presence in the TWT market. If they act, backed by marginalized and late investors, the price of Trust Wallet could rise.
The resulting buying pressure could see Trust Wallet price regain lost ground, potentially surpassing $1.80. However, the price must record a decisive daily close above $1.88 to confirm an uptrend. Such a measure would constitute a 30% increase above current levels.
Meanwhile, investors have flocked to BTCETF as rumors about bitcoin exchange-traded funds (ETFs) continue to intensify. Prepare your cryptocurrency wallet with BTCETF before the first bitcoin ETF is approved.
Promising alternative to Trust Wallet
BTCETF is the symbol of the bitcoin ETF Token project. It gives investors a first-mover advantage before the US Securities and Exchange Commission (SEC) finally gives the green light for the launch of spot btc ETFs in the crypto market.
Presenting #BitcoinETFthe visionary project prepared to revolutionize the crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto kingdom anticipating the arrival of bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF.
Stay tuned for the reveal of the distinctive mechanics and strategies that establish #BTCETF apart in the world of digital assets. pic.twitter.com/7CBWhJlErg
– BTCETF_Token (@BTCETF_Token) November 1, 2023
The BTCETF token is available for purchase using eth or USDT and costs $0.005 per token. Investors are already flocking to buy BTCETF, with pre-sale sales now clocking in at $70,979 of the $420,000 target.
The bitcoin ETF token pre-sale attracts an average of $35,000 per day, meaning the window is rapidly closing before the pre-sale tokens run out. The token is among the top five cryptocurrency presales to buy now, so don’t miss out.
As a side note, the bitcoin ETF Token project is being developed in five phases, categorized as milestones. The first is when it reaches $100 million in trading volume, while the fifth will be when the price of bitcoin reaches $100,000.
Explaining the fifth and final milestone for #BitcoinETF. 5⃣
This moment will show the strength and stability of bitcoin.
When the price of one bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin closes a daily candle above $100,000, 5% of the total #Symbolic the supply will be burned and the transaction tax will be reduced from 1% to 0%. pic.twitter.com/8nYjTkDl83
– BTCETF_Token (@BTCETF_Token) November 7, 2023
Visit bitcoin ETF Token here to buy BTCETF in the pre-sale
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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