Turbo Price Forecast: With $TURBO Up 42% in 7 Days – Could a Bigger Rally Be Ahead?
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
Over the past 24 hours, the TURBO price has dipped following a brief uptick, down 2.38%.
This underperformance is notable, especially as meme coins, on average, have seen a 5.84% gain.
However, fundamentals continue to stack in Turbo’s favor.
Despite today’s loss, TURBO has retained a 37.01% gain since last Thursday, positioning it among the top-performing meme coins over this period.
The most significant factor contributing to Turbo’s recent rise is its recent listing on Binance, which brought new liquidity to the meme coin – with more listings anticipated.
But with this comes weak hands, the impact of which we appear to be seeing as holders take profit and newcomers succumb to unrealized losses under sell-off pressure.
Therefore, it is expected that we see some downside in the near term before Turbo finds stable footing, ready for its next move.
A closer look at the TURBO price chart reveals a greater risk, as the recent decline reaffirms a descending triangle pattern.
This bearish pattern, characterized by its support at $0.0032275 and consistent lower highs forming a narrowing consolidation range, could be a prelude to a drawdown.
The bullish double-bottom pattern failed to play out and deliver the momentum needed to breach the upper boundary of the triangle, confirming its hold remains strong.
However, the Relative Strength Index (RSI), currently at 65, conveys strength, suggesting that a downward breakout may not occur yet as buying pressure holds it in positive territory. Traders should look for a more decisive break away from the
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