Trust Wallet published their new Litepaper on Sept. 18.
The TWT price trades inside a descending wedge pattern.
Can TWT sustain its Litepaper momentum and break out?
Trust Wallet Token (TWT) has fallen steadily since its all-time high in 2022. While numerous attempts at a bullish trend reversal have been made since, neither has been successful.
Today, the TWT price is making another such attempt, spurred by the announcement of a litepaper and a shoutout from Binance co-founder Changpeng “CZ” Zhao.
Can TWT break out, and if so, how much further will it increase? Let’s examine the charts and find out.
Why is TWT Going Up?
On Sept. 18, the Trust Wallet team published their litepaper, outlining their plans for growth until 2030.
According to the team, they plan to grow fivefold to 1 billion users by 2030, with TWT as the central token unlocking features, participations, and rewards in the ecosystem.
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Wave C also created an ending diagonal (dashed), confirming the validity of the pattern.
If the count is accurate, a long-term correction is over, and Trust Wallet has started a new upward movement.
Once the price clears the $1.60 resistance, it could hit a new all-time high at $3.93, targeting the 1.61 external Fibonacci retracement of the entire drop.
Trust Wallet Breakout Incoming
TWT’s new Litepaper and CZ’s endorsement have injected fresh momentum into the project, aligning with a bullish descending wedge pattern.
If a breakout occurs, the $1.60 resistance becomes the key level to watch before retesting its all-time highs.
A push beyond could lead to a move toward $3.93, marking a new all-time high price.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
