Market Overview for Trust Wallet Token/Tether (TWTUSDT)

Summary
• TWTUSDT opened at $1.2618 and closed at $1.2892, with a high of $1.3118 and a low of $1.2548.
• Price formed a bullish recovery from intraday support near $1.2700 after a sharp pullback.
• Turnover surged during the $1.28–$1.30 range, aligning with key Fibonacci retracement levels.
• RSI and MACD showed moderate momentum, with no strong overbought or oversold signals.
• Volatility expanded during the Asian session, with Bollinger Bands reflecting increased price swings.

Opening and Closing Dynamics

Trust Wallet Token/Tether (TWTUSDT) opened at $1.2618 on 2025-11-07 at 12:00 ET and closed at $1.2892 on 2025-11-08 at the same time. The pair reached a high of $1.3118 and a low of $1.2548, with a total volume of 1,747,772.0 units and a notional turnover of $2,209,567.95 over the 24-hour window. The price action suggests a consolidation phase following earlier volatility, with support and resistance levels influencing short-term behavior.

Structure and Key Levels

Price found notable support at $1.2700 and $1.2800 during the 15-minute chart. Resistance levels emerged at $1.2950 and $1.3050, with a strong bearish engulfing pattern visible on the $1.29–$1.2850 decline. A small doji appeared at $1.3000, indicating indecision. Fibonacci retracement levels from the $1.2548–$1.3118 swing show 38.2% at $1.2910 and 61.8% at $1.2760—both of which were tested and held during the session.

Trend and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages were in a near-parallel configuration, suggesting no strong directional bias. The 200-period moving average on the daily chart remained above current price levels, indicating a long-term bearish tilt. The MACD histogram showed a narrowing divergence, signaling a potential momentum slowdown. RSI hovered between 50 and 60, suggesting the pair is neither overbought nor oversold but trending sideways with moderate buyer participation.

Volatility and Bollinger Bands

Bollinger Bands widened during the Asian and European trading sessions, with price reaching the upper band multiple times in the $1.29–$1.3050 range. A contraction was observed between $1.2850 and $1.2900, followed by a breakout that aligned with the daily Fibonacci 61.8% level. Price appears to be trading within a defined range bounded by these bands, with volatility likely to remain elevated ahead of potential trend continuation or reversal cues.

Backtest Hypothesis

To further refine strategy ideas based on this session's dynamics, we can attempt a backtest using the MACD indicator. Specifically, a common approach is to identify and test "MACD death-cross" signals, where the MACD line crosses below the signal line. These events historically may indicate a bearish shift in momentum. However, a recent attempt to retrieve the MACD death-cross data for TWTUSDT from 2022-01-01 to 2025-11-08 returned an error related to data retrieval. This suggests the need to either retry the query, narrow the time frame, switch to a different data source, or manually provide the MACD death-cross dates if available. Resolving this issue will allow for a more robust and historically grounded strategy assessment.