Tornado Cash Price Prediction: TORN Surges 455% After Judge Says OFAC “Overstepped” In Tornado Cash Case, While Investors Flock To This Meme...

Tornado Cash Price Surges 455% Following Legal Victory

The Tornado Cash price surged by 455% in the past 24 hours, reaching $18.50 at the time of writing. The trading volume also skyrocketed by 9,592% to $9.6 million.

This surge follows a ruling by a three-judge panel that declared the US Treasury Department's sanctions against Tornado Cash's smart contracts unlawful.

The ruling stated that the Office of Foreign Assets Control (OFAC) exceeded its authority by sanctioning TORN's immutable smart contracts.

Tornado Cash Price Shows Extreme Overbought Conditions

The recent price increase has resulted in an overbought condition for Tornado Cash. The price is currently far above both the 50-day and 200-day Simple Moving Averages (SMAs).

The Relative Strength Index (RSI) is also extremely overbought, indicating that a correction or consolidation could be imminent.

Bullish Momentum Remains Strong

Despite the overbought conditions, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, suggesting ongoing upward momentum.

If the buying momentum continues, the Tornado Cash price could continue to rise towards $25.

Potential Support Zones

However, if the bears take advantage of the overbought conditions, TORN could decline towards support zones at $15 and $10.

Other Trending Cryptocurrencies

As Tornado Cash gains attention, investors are also exploring other trending cryptocurrencies, including:

• Flockerz (FLOCK): A community-controlled meme coin with a Vote-to-Earn (V2E) mechanism.
• Peter Schiff Sparks Debate Over Bitcoin's Impact on US Economic Strength
• Top Trending Cryptos on Solana Chain – Rizzmas, Fwog, Purple Pepe
• Best Cryptos to Buy Right Now – eCash, Core, Ethereum Classic