Trust Wallet Token and 1inch Show Signs of Recovery
Trust Wallet Token (TWT) and 1inch (1INCH) are recovering after a recent sell-off. Both tokens show stronger momentum on daily charts. On-chain data points to renewed user interest and higher trading volumes. Technical analysis indicates both tokens are bouncing off key support levels and moving upward.
Rising Trading Volume Signals Increased Interest
Trading volume is a good sign of demand for an asset. When volume rises along with price, it shows more buyers are entering the market. This week, 1INCH’s trading volume reached $110.86 million, up from $81.21 million last week. TWT’s weekly volume also rose to $32.98 million, marking its second straight increase.
The integration of 1inch’s aggregator in the Trust Wallet ecosystem may help both tokens move together. Network growth data from Santiment shows 1inch’s user activity rose to 160 on Thursday. This is its highest level since mid-July and beats the rise to 157 on September 5. Meanwhile, Trust Wallet’s daily active users have also increased, which may boost demand for TWT.
Technical Analysis: What’s Next for TWT and 1INCH?
TWT rose 2% on Friday, continuing its rebound from the 100-day Exponential Moving Average (EMA). The token stays above $1, supported by its 50-day, 100-day, and 200-day EMAs. After a correction from its October 8 high of $1.7322, TWT is stabilizing near $1.1059. If it closes above resistance at $1.2935, the uptrend may resume, targeting the $1.65 level and higher.
Indicators show bullish signs for TWT. The MACD is near a positive crossover, and the RSI at 48 aims to rise above the midpoint, signaling reduced selling pressure. However, if TWT falls below $1.1059, it could test support at the 200-day EMA near $1.01, then $0.93.
1INCH jumped over 11% on Friday and is testing the 100-day EMA at $0.2183. The key resistance lies near the 200-day EMA at $0.2330. Breaking above this could push 1INCH toward $0.25 and $0.35 resistance points.
Unlike TWT, 1INCH’s 50-day, 100-day, and 200-day EMAs are falling, signaling a downtrend with possible resistance ahead. Still, daily charts show increasing buying pressure. The MACD is bouncing off the signal line, and the RSI at 59 shows room to grow before becoming overbought.
If 1INCH fails to break above $0.2330, key supports are at $0.1667 and $0.1368, levels from June 22 and November 4 lows.
