Turbo Price Prediction: TURBO Jumps 12% As Traders Rush To Buy This New ICO With A 1,108% APY

Turbo Price Soars 12% on Bullish Sentiment

The Turbo price has surged 12% in the past 24 hours, reaching $0.005119 as of 7:05 a.m. EST. This jump coincides with a 41% increase in trading volume, reaching $206 million.

Bullish Breakout Following Rounded Bottom Formation

The TURBO/USD pair on the 4-hour timeframe has formed a rounded bottom pattern, indicating a potential shift in sentiment from bearish to bullish. The price gradually formed this pattern between $0.003500 and $0.004500.

Golden Cross and Key Support Signal Gains

The 50-day simple moving average (SMA) has crossed above the 200-day SMA, creating a "golden cross" and signaling bullish momentum. The current support level at $0.004500, coinciding with the 50-day SMA, provides a solid foundation for further growth.

Technical Indicators Confirm Bullishness

The MACD indicator shows a bullish crossover, while the RSI indicator at 60.41 suggests that the market is not overbought yet. This indicates the potential for additional gains before reaching overbought conditions.

Target and Support Levels

The current price of Turbo is around $0.005090, having broken through the previous resistance formed by the rounded bottom. The next target for upside movement is around $0.005500, where some resistance may be encountered. Support remains at $0.004500. A breach below this level could lead to a retest of $0.004000.

Conclusion

Turbo's bullish momentum is expected to continue, with the potential for further gains. However, traders should monitor the key support level at $0.004500. Cryptocurrency enthusiasts are also showing interest in the Crypto All-Stars (STARS) presale, which has raised over $1.3 million in funds.