TWT soars by 47% after Changpeng Zhao promotes the use of Trust Wallet

TWT is the best performer amongst the leading cryptocurrencies today after rallying by 47% in the last 24 hours.

TWT, the native token of the Trust Wallet ecosystem, is up by 47% in the last 24 hours, making it the best performer amongst the top 100 cryptocurrencies by market cap.

The rally comes after Changpeng Zhao, the CEO of Binance, urged people to use Trust Wallet. His comment comes as centralised exchanges were facing pressure from the broader crypto community following FTX’s recent collapse. 

We are not just a CEX. We offer choices.

Store crypto yourself? Read this article I wrote from 2 years ago. The 15 minutes read will save you money and headache later. @TrustWallet

Read the same article if you use a CEX, too. @binancehttps://t.co/Kp6VeKirgZ

— CZ 🔶 Binance (@cz_binance) November 13, 2022

CZ said Binance offers choices for investors, and Trust Wallet is one way they can store their cryptocurrencies and be in control of their keys. 

TWT’s rally comes as the broader crypto market begins its recovery following last week’s massive losses. The total crypto market cap is up by more than 1% today and currently stands at around $840 billion.

Bitcoin is closing in on the $17k resistance level and is up by 1% in the last 24 hours. Ether is also trading above $1,200 and is up by 2.5% so far today.

Key levels to watch

The TWT/USD 4-hour chart is extremely bullish as Trust Wallet has been performing well in the last 24 hours. The technical indicators show that TWT is outperforming the broader crypto market. 

The MACD line is deep within the positive zone, indicating that TWT is currently bullish. The 14-day RSI of 85 shows that TWT is currently in the overbought region.

At press time, TWT is trading at $2.4952 per coin. If the bullish run continues, TWT could surge past the first major resistance level at $3.0 and set a new all-time high in the process.

However, TWT could need the support of the broader cryptocurrency market to move toward the $4 mark in the near term. 

Where to buy Trust Wallet now