thenewscrypto.com
- $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.