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Turbo price has soared 1,565% in the past month trading at 0.00833 at 19:12 UTC, according to GeckoTerminal.
This made it the top gainer of the period among the 200 largest cryptocurrencies by market capitalization.
Some analysts are now predicting that TURBO price could reach $0.1.
THE $TURBO parabolica won't stop until $0.10, just accept it.#Memecoin the season is here. pic.twitter.com/PK58kA6T14
– STEPH IS CRYPTO (@Steph_iscrypto) June 1, 2024
Turbo Price Outlook
Analyzing the Turbo price charts, we see a retraction from the recent bullish breakout of the bearish channel. This suggests a potential continuation of the downward movement once the price breaks below the flag's lower trendline.
Looking at other indicators, we see that the Money Flow Index (MFI) (57.23) is slightly above the midpoint at 50, indicating a moderate inflow of money into the asset. An MFI value above 50 generally suggests that buying pressure prevails.
On the other hand, we see that the average directional index (ADX) value (25.85) indicates a somewhat strong trend. Values above 25 generally suggest that a trend is strong enough for trend trading strategies, but in this context the trend strength begins to weaken since it is not much above 25.
The Commodity Channel Index (CCI) (~60) indicates that the price is slightly above its average, considered relatively normal without signaling extreme conditions. The CCI’s oscillation around zero also suggests that the price is in a consolidation phase.
Although the market has shown previous strength, current indicators and pattern formation suggest a cautious approach due to the potential for further declines as suggested by current Turbo price movements.
TURBO/USDT 4-hour chart | Source: Trading View
As the price of the Turbo drops, WienerAIa dog-themed coin ICO, has surpassed $3.7 million in funds raised.
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🌭Wiener AI is on the move!🌭
Big day for our development team. The AI Trading Bot interface is nearing completion. pic.twitter.com/AntAqQVnsr
– WienerAI (@WienerDogAI) May 28, 2024
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