TWT recovers on growing volume after CZ promises coverage for exploit losses | Credit: Hameem Sarwar
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Key Takeaways
TWT bounced as CZ stated, Trust Wallet will cover the exploit losses.
The 4-hour chart turned bullish, with the TWT price now targeting $0.87.
The daily chart indicates that TWT may experience a potential breakout toward $0.99.
On Christmas Day, the Trust Wallet Token (TWT) crashed to $0.76. This decline extended its 30-day performance to a 22% correction.
However, today, the altcoin’s value has rebounded to $0.84, despite the decentralized exchange recently experiencing an exploit.
In this analysis, CCN explains why the TWT price has recovered, and what could be next.
CZ Assures Trust Wallet Users
Earlier, CCN reported that a recent wallet update led to an exploit that resulted in nearly $7 million in losses.
In the aftermath, Trust Wallet Token price dropped, breaking down from key support.
However, as of this writing, the price action has stabilized, following public commentary from Binance founder Changpeng Zhao (CZ).
CZ noted that the team intends to cover user losses tied to the incident — an assurance that appears to have eased immediate downside pressure.
The response is particularly notable given that Trust Wallet is owned by Binance, placing additional scrutiny on how the situation is handled and how quickly trust can be restored.
“So far, $7m affected by this hack. TrustWallet will cover. User funds are SAFU. Appreciate your understanding for any inconveniences caused. The team is still investigating how hackers were able to submit a new version,” He posted on X.
4-Hour Analysis
Examining the 4-hour chart, bulls have successfully defended the support level near $0.78. In the process, the TWT price has breached the $0.82 resistance, with indicators revealing that the value could be higher.
For instance, the green line of the Supertrend is positioned below the price. This is the first time that has happened since Dec. 12.
Should this trend persist, the token may have sufficient support to help it surpass $0.87.
To add to this bias, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover. This contradicts the indicator’s position from the past two days.
Additionally, CCN noted that trading volume has increased with TWT’s price, indicating that the rebound is being driven by growing market participation.
Should this trend persist, the cryptocurrency’s value may continue to recover from the recent losses it has experienced.
Upon reviewing the daily chart, we observed that TWT remains trapped in a falling triangle. However, it has bounced above the horizontal support as the price aims to flirt with the descending trendline.
Meanwhile, the Awesome Oscillator (AO) has displayed a green histogram bar. This suggests that momentum is shifting from bearish to bullish.
If this trend continues, the Trust Wallet Token price might breach the resistance line. Once that happens, the next target for the altcoin could be $0.99.
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.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
