Trust Wallet Token Price Rally Stalls After Hitting Target

Trust Wallet Token (TWT) recently surged to $1.33 before correcting to around $1.10, still holding a strong 37% gain in the past 24 hours. While many linked the rally to Binance founder CZ’s tweet, technicals suggest the breakout was already underway. The move completed an inverse head-and-shoulders pattern, hitting its projected target near $1.17. Once that level was reached, traders began heavy profit-taking.

On-chain data confirms the sell-off. Exchange inflows flipped from –177,980 TWT on September 17 to +2.84 million just two days later, a massive 1,600% increase. This spike shows holders rushing to secure profits, increasing short-term sell pressure. Meanwhile, whale wallets holding 10 million–100 million TWT have reduced their balance by over 7.5 million tokens since early September — a selloff worth more than $8 million at current prices. These large holders have continued trimming positions in the last 24 hours, further weighing on price stability.

Adding to the bearish outlook, TWT shows a hidden bearish divergence. Since December 2024, price action has made lower highs while the RSI posted higher highs, signaling weakening momentum. Unless buying strength returns, this setup suggests the broader downtrend remains intact.

Key support levels lie at $1.00, $0.84, and $0.71. A break below $0.71 could expose TWT to $0.63. On the upside, only a decisive daily close above $1.42, and ideally $1.63, would invalidate the bearish case and revive bullish sentiment.

For now, TWT’s rally appears more like a completed breakout with heavy profit-taking rather than the start of a sustained uptrend. Holding above $1.00 will be critical to prevent deeper losses in the coming sessions.