- TURBO has jumped 27% and is hovering at $0.0011.
- Its daily trading volume has skyrocketed by 1,525%.
The broader market has a 2.1% uptick, pushing some of the major assets into the green zone. Meanwhile, the token TURBO has been volatile over the past few weeks. A series of lows and highs was observed on the chart. The asset has posted a steady jump of 27.75% in value over the last 24 hours.
From a bottom level of $0.0009117, the TURBO price climbed toward the current trading range of $0.001170. The digital asset has surpassed a few key resistance zones to confirm the uptrend. Besides, the daily trading volume has skyrocketed by over 1525%, reaching the $152.43 million mark.
Upon analysing the 4-hour bullish trading chart, the TURBO price could rise to the resistance at $0.0012. Continued upside pressure might trigger the emergence of the golden cross, and the potential bulls would drive the asset’s price even higher.
In the scenario of a bearish reversal, the price might test multiple support levels, initially at around $0.0010. With a correction on the downside, the TURBO price invites the death cross to take place, likely sending the price back to its former lows.
TURBO Technical Indicators Point to a Bullish Setup
The daily Relative Strength Index of TURBO is resting at 68.87 implies a strong bullish sentiment. Notably, the value may approach 70, the overbought zone. If RSI moves higher, a short-term pullback could occur, although the overall momentum may remain bullish.
Moreover, the Bull Bear Power (BBP) reading of 0.000256 points to a very weak bullish dominance. It is extremely close to zero, with the buyers having a slightly more advantage. The market is stable, and assuming a further rise, the bullish strength may grow.
TURBO’s Moving Average Convergence Divergence line is found above the signal line, and both over the zero line. It shows a strong bullish impulse, and the short-term trend is stronger than the longer-term average.
This setup has a healthy uptrend with continued upward potential. As long as both lines remain above zero and the MACD stays above the signal line, the uptrend is likely to persist.
In addition, the Chaikin Money Flow indicator at 0.14 exhibits moderate buying pressure. The capital inflow is higher than the outflow, hinting at an active accumulation. It increases demand and supports the ongoing TURBO market sentiment.
If the CMF continues to rise, it could strengthen bullish momentum, while a move back toward zero would weaken buying pressure.
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Source: https://thenewscrypto.com/turbo-rockets-27-will-the-rally-accelerate-or-face-a-pullback-soon/
