Market Overview: TWT/USDT Faces Fresh Bearish Momentum on Key Support Break

Summary
• Price broke key support at $0.8305, closing near session low at $0.828.
• Volume spiked during early morning ET, confirming bearish momentum.
• RSI in oversold territory suggests possible short-term bounce, but downward bias remains.
• 20-period MA crossed below 50-period MA on 5-min chart, signaling bearish signal.
• Bollinger Bands widened significantly post-00:00 ET, reflecting increased volatility.

Trust Wallet Token/Tether (TWTUSDT) opened at $0.8277, hit a high of $0.8576, and closed at $0.828 after a strong bearish session. Total volume reached 1,867,500, while turnover hit $1,553,898.

Structure and Key Levels

The pair broke the 0.8305 support level decisively during the session, forming a bearish engulfing pattern and a long lower shadow near the close. A cluster of price action around $0.828–$0.829 suggests this area could act as a near-term floor.

Moving Averages and Momentum

On the 5-minute chart, the 20-period MA crossed below the 50-period MA, confirming bearish momentum. Daily MAs remain neutral as of the last full bar, but the short-term bearish crossover suggests traders are shifting toward defensive positions. RSI dipped into oversold territory, hinting at possible short-covering or a rebound from key levels.

Volatility and Bollinger Bands

Bollinger Bands saw a clear widening after the breakout at 00:00 ET, with price closing near the lower band, reinforcing the bearish signal. The expansion in volatility aligns with the large-volume move lower and could precede a consolidation phase.

Looking ahead, a retest of $0.828–$0.829 appears likely, with the potential for a bounce or further breakdown depending on order flow. Traders should remain cautious as the pair could test the 0.820–0.822 level if bearish momentum persists.