Just a month and a half ago, we wrote about this TrustWallet token and warned about the potential fall of this coin.
The coin $TWT was actively pushing towards the lower border of the ascending channel and for a long time could not return above the long-term moving average ma200d.
📉 As a result, from that moment the coin fell by -37.13%. Although the coin is now very much oversold, as are the indicators, we do not recommend purchasing TWT coins at current prices.
Firstly, against the backdrop of the FUD with Binance, this token can clearly fall under the news distribution.
Secondly, there is still a lot of liquidity below and it will be collected. Judging by the volumes, there have not been strong sales yet.
Thirdly, the coin is still fundamentally useless and is practically not used anywhere, except for providing a small discount in a not very popular service for converting fiat into crypto.
In quarters, do not forget about the decrease in liquidity in the system, from which it is these alts that will suffer the most
✅ It makes sense to buy a coin only after the appearance of very high volume and a long red candle with a large shadow below.
Now pay attention to the Bitcoin chart from the previous post. From a technical point of view, the situation is very similar. Bitcoin has also now fallen out of the ascending channel, and there is ample liquidity below, especially under the long-term upward trend.
🤟 Did you like the review or want to better understand cryptocurrencies and technical analysis?
✔️ Then subscribe to the channel and like
➡️#cassius_tradeLook for us in the profile header!
