- TURBO has gained 5% and is currently trading at $0.0054.
- Its daily trading volume has surged by over 283%.
The crypto industry is riding like a rollercoaster, undergoing ups and downs in recent days. Assets caught in a bear grip tried rebounding, but others have tumbled even more. Bitcoin (BTC), the largest asset, has broken all barriers and hit a new ATH, and the largest altcoin, Ethereum (ETH), has reclaimed its recent highs. Among the pack of altcoins, TURBO has posted a surge of over 5.52%.
In the early hours, the asset traded at the bottom range of $0.005079. With the bullish awakening, the TURBO price climbed toward a high level of $0.006655. The asset has surpassed the key $0.005108 and $0.006648 resistance zones. Further gains would trigger the asset target higher, igniting a bull rally.
As reported by CMC data, at press time, TURBO trades at around $0.005453, with its market cap reaching a mark of $374 million. Meanwhile, the daily trading volume has exploded by over 283%, touching $564.69 million. Moreover, during this period, the market has witnessed a 24-hour liquidation of $4.68 million in TURBO, according to Coinglass.
Can TURBO Maintain Its Upward Trajectory?
The technical analysis of TURBO displays that the Moving Average Convergence Divergence (MACD) line has crossed over the signal line. This crossover implies a bullish outlook, entering a potential uptrend, with a buy signal in the market. In addition, the Chaikin Money Flow (CMF) indicator found at 0.01 points out a mild positive money flow into the asset. Also, the buying pressure slightly outweighs the selling pressure.
The four-hour bullish trading session could push the asset to jump over the $0.005459 range. A prolonged upward correction of TURBO might trigger the golden cross emergence, reinforcing the bulls and driving the price above the $0.005466 resistance zone. In the event of a downturn, the asset might face a series of support levels, testing the initial at $0.005446. Continued correction on the downside could invite the death cross, likely sending the TURBO price back to $0.005439 or deepening losses.
Furthermore, the Bull Bear Power (BBP) value of 0.000566 indicates weak bullish strength, and only a stronger momentum could lead the direction. TURBO’s daily Relative Strength Index (RSI) staying at 63.14 suggests its bullish sentiment and may approach the overbought zone, with room for further upward movement.
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