Market Overview: Trust Wallet Token (TWTUSDT)

• Trust Wallet Token (TWTUSDT) declined sharply by 6.8% in 24 hours, closing near a recent support level at $0.7970.
• A large bearish engulfing pattern formed in early ET hours, signaling increased bearish momentum.
• Volatility expanded sharply during the sharp selloff, with volume surging over 100x average levels.
• RSI dropped below 30, indicating oversold conditions, though divergence with price suggests caution.
• Fibonacci levels indicate strong support near $0.7846, with resistance likely at $0.8023 in the near term.

Trust Wallet Token (TWTUSDT) opened at $0.8260 on 2025-08-13 at 12:00 ET and closed at $0.7986 as of 12:00 ET on 2025-08-14. The pair reached a high of $0.8338 and a low of $0.7700, with total 15-min OHLC volume of 3.3 million and notional turnover of $2.6 million.

Structure & Formations

The 24-hour candlestick chart for TWTUSDT revealed a sharp bearish reversal pattern following a large engulfing candle formed around 18:30 ET, where price fell from $0.8282 to $0.7850 in a single 15-minute interval. This was followed by a prolonged consolidation phase. A key support level appears to be forming at $0.7970 and $0.7846, with a recent bearish divergence suggesting bears may not yet be exhausted.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart have turned sharply downward, confirming the bearish momentum. On the daily chart, the 50-period MA is still above the 200-period MA, indicating a long-term bullish bias, though the 200-period MA appears to be forming a potential barrier in the $0.8023–$0.8050 range.

MACD & RSI

The 15-minute MACD crossed below the zero line and remains negative, with a bearish histogram suggesting continued downward pressure. RSI has dropped below 30, entering oversold territory, but price has not yet rebounded — a sign that bears may still have control. A bullish divergence could signal a short-term rebound, but caution is warranted until the RSI and price align.

Bollinger Bands

Volatility spiked during the selloff, pushing price outside the lower Bollinger Band and into oversold territory. In the final hours of the 24-hour period, volatility began to contract again, indicating a possible consolidation phase. The current price appears to be forming a potential floor around the lower band, suggesting a possible bounce in the near term.

Volume & Turnover

Volume surged significantly during the 18:30 ET 15-minute period, with over 1.08 million tokens traded, far exceeding the 24-hour average. This aligns with the sharp price drop and suggests a meaningful shift in sentiment. However, volume has since dropped sharply, indicating a possible exhaustion of the move lower. Notional turnover has remained relatively high throughout the day, confirming the intensity of the recent selloff.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $0.8338 to $0.7700, key levels include 38.2% at $0.8085 and 61.8% at $0.7899. These levels could act as potential support/resistance during a near-term bounce. For the daily chart, the 61.8% retracement level of the broader recent move is at $0.7846, coinciding with a key psychological round number and historical support.

Over the next 24 hours, TWTUSDT may find a floor around $0.7846, with a possible test of the 38.2% retracement level on a bounce. Traders should watch for volume confirmation on any rebound and be cautious of potential follow-through selling if key support is violated.