IPO prices are always tentative until the investor order book closes—which it did earlier in the week—and the market closes for the day, say underwriters, so an afternoon glitch in market trading could always change Twitter and its bankers' thinking.
But as of midday Wednesday, the stock market was generally strong, with the Dow Jones Industrial Average having hit an all-time high in the morning.
A final decision will be made in a conference call after the close of Wednesday's trading, during which Twitter management and underwriters, led by Goldman Sachs, will set the concrete price.
(Read more: Twitter's power players and ousted leaders)
The tech-heavy Nasdaq fell primarily on weak earnings from Tesla, but is up 30 percent year-to-date. Perhaps most important for an IPO, the CBOE Volatility Index is at 13, 50 percent lower than where it was during Facebook's infamously botched initial public offering.
Market conditions on the whole are vastly different than they were then.
Facebook priced its stock at $38, the high end of an already-raised range, on a day when the Nasdaq was down triple-digits.
By the end of that week, the Nasdaq—where Facebook traded, and where it would eventually be added to its index— was down 5.3 percent, its worst week in nine months. The Dow had a weekly loss of 3.5 percent, and the S&P lost 4.3 percent.
The VIX, which is underwriters' key indicator for the smoothness of an IPO market, rose 26 percent to 25, on fresh concerns over Europe's sovereign debt crisis.
—Follow Kate Kelly on Twitter @KateKellyCNBC and Kayla Tausche @kaylatausche