Market Overview for Trust Wallet Token/Tether (TWTUSDT)

• Price surged nearly 15% over 24 hours, with TWTUSDT reaching a high of 0.9333.
• Momentum picked up midday, with the RSI hitting overbought territory post-15:00 ET.
• Volume spiked dramatically during the breakout, confirming the bullish trend.
• Volatility expanded as Bollinger Bands widened, signaling increased price action.
• A bullish engulfing pattern emerged around 08:00–09:00 ET, supporting the recent upward move.

Trust Wallet Token/Tether (TWTUSDT) opened at 0.7687 on 2025-09-17 at 12:00 ET and closed at 0.8041 on 2025-09-18 at 12:00 ET, with a high of 0.9333 and a low of 0.7648. Total volume for the 24-hour period was 3,355,433.0, and total notional turnover was approximately $2,714,497.09.

The price action displayed a strong bullish bias, particularly from 12:15–12:45 ET, where large volume spikes drove the price up nearly 10% in just 90 minutes. A key resistance level was formed near 0.9000, where the price briefly stalled before surging higher. On the 15-minute chart, a bullish engulfing pattern appeared at 08:00–09:00 ET, confirming a shift in momentum from bearish to bullish.

Structure & Formations

The price found key support levels at 0.8000 and 0.7950, which held multiple times during the consolidation phase. A strong breakout occurred at 0.8500, which now serves as a new support level. Notable candlestick patterns included a bullish engulfing pattern at 08:00–09:00 ET and a doji at 11:45 ET, suggesting indecision. A bearish harami pattern formed around 06:00–06:15 ET, indicating a potential reversal that failed to materialize.

Moving Averages

On the 15-minute chart, the price closed above the 20-period and 50-period moving averages, confirming the bullish momentum. On the daily chart, the 50-period moving average crossed above the 200-period moving average, forming a golden cross that historically signals a bullish trend. The 100-period moving average currently acts as a dynamic support near 0.8200.

MACD & RSI

The MACD line turned positive after 07:00 ET, aligning with the price breakout. The histogram expanded significantly between 12:15–12:45 ET, indicating strong momentum. The RSI moved into overbought territory (above 70) after 14:45 ET, suggesting that the price could face short-term resistance. However, the overbought condition has not triggered a significant pullback, indicating strong buying pressure.

Bollinger Bands

Bollinger Bands widened significantly after 12:00 ET, indicating an increase in volatility. The price spent most of the 24-hour period outside the upper band, suggesting a strong bullish move. A contraction in band width occurred between 00:00–03:00 ET, which was followed by a breakout. The current price sits comfortably above the upper band, signaling that the bullish move remains intact.

Volume & Turnover

Volume spiked dramatically during the price breakout, with the largest single 15-minute candle (at 12:15 ET) showing a volume of 2,846,473.0. This massive volume confirmed the breakout and signaled strong conviction in the bullish move. Notional turnover increased in tandem with volume, with the highest turnover occurring in the last 3 hours of the 24-hour period. No notable divergence between price and volume was observed, suggesting that the bullish trend is likely to continue.

Fibonacci Retracements

Fibonacci retracement levels applied to the recent 15-minute swing (0.7648–0.9333) identified key resistance at 0.8565 (61.8%) and 0.8955 (78.6%). On the daily chart, the 0.8500 level (38.2%) has acted as a strong support and is now turning into a key resistance level. The 0.8250 (61.8%) level could serve as a potential target if the current bullish momentum stalls.

Backtest Hypothesis

Based on the observed price patterns and confirmation by volume, a backtest could focus on a breakout strategy triggered by the 15-minute bullish engulfing pattern, confirmed by a 15-minute RSI crossing into overbought territory. A stop-loss could be placed just below the 0.8000 level, with a target at 0.9100, aligning with the 78.6% Fibonacci retracement. This setup would allow for a risk-to-reward ratio of at least 1:1.5, providing a balanced approach for short-term traders.