Turbo Price Plummets 32% in 24 Hours
Turbo's value has dropped significantly, plunging 32% in the past 24 hours. As of 03:45 a.m. EST, it trades at $0.0060, facing a 26% decline in trading volume to $353 million.
Meme Coins Sector Slumps
The broader meme coin sector has also experienced a downturn, with an 8% drop in market capitalization to $61 billion. Key players like DOGE, SHIB, and PEPE have witnessed significant losses of 4%, 5%, and 12%, respectively.
Turbo Price Bulls Seek Trend Reversal
Despite the recent downtrend, Turbo is trading above the 200-day Simple Moving Average (SMA). Bulls aim to maintain the upward momentum by surpassing a critical resistance level at the 50-day SMA.
The Relative Strength Index (RSI) indicates a seller-dominated market, with the RSI dipping into the oversold region at 33. However, the Average Directional Index (ADX) suggests a strong bearish trend.
Turbo Price Prediction
Turbo's downward trajectory within the bullish pennant pattern signals a strong bearish trend. A breach of the support zone at $0.00496 could lead to further retracement to $0.003615.
Alternatively, a trend reversal towards the $0.009849 resistance level is possible if the $0.005850 support holds.
Other News in Crypto
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- Best Meme Coins to Invest in: Consider high-potential meme coins like DOGE, SHIB, and FLOKI for exponential gains.
- Crypto to Watch in 2024: Identify promising cryptocurrencies with strong growth prospects, such as ETH, BTC, and BNB.
- Buying Bitcoin with Debit Card: Utilize debit cards to conveniently purchase Bitcoin through platforms like Coinbase and Binance.
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