Turbo (TURBO) coin, an ERC-20 meme coin, has continued to spark bullishness over the past few weeks. The TURBO coin price rallied by over 140% in the last two weeks and recorded a new ATH of $0.01180 this week. The memecoin decoupled from the broader market and saw a massive bull rally.
The frog-themed memecoin has been in a strong uptrend and climbed above the key EMAs. The TURBO price recently breached a horizontal neckline of $0.0100 and enlisted a breakout.
After hitting new highs, the memecoin retested the neckline. It bounced off the zone in yesterday’s session, recording an 8% surge. The uptrend was intact, and a series of higher highs was witnessed. Looking at the Fib levels, the TURBO coin could see a 15-20% surge and may reach $0.01300 next.
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TURBO Coin Price Prediction: Analyzing the Key Levels
The price action on the daily timeframe guided a bullish outlook. TURBO coin witnessed a golden crossover and adhered to a strong uptrend.
TURBO crypto was trading at $0.01124 with an intraday rise of over 8.27%. It was ranked 205th with a market cap of $733.90 Million.
The Relative Strength Index (RSI) was in the overbought zone, around 68 at press time. It indicated that the buying pressure was intense.
Likewise, the MACD indicator displayed a bullish reading. That conveyed a positive outlook. Moreover, CMF showed muted capital inflows, around 0.09, at press time. This reflected a slightly positive outlook.
The latest bounce of over 8% signaled buyers’ anticipation to cross the weekly high of $0.01180. That may mark a new high soon.
In a recent post, Hexatrades said that the TURBO coin had registered a bullish flag breakout on the hourly chart. It could revisit the local highs of $0.01180 ahead.
After marking fresh ATH on October 15, the TURBO price saw a minor profit booking. It retracted over 20% from the highs. In the last two days, the memecoin has regained traction and surged over 12%.
It was 11% away from the $0.01180 ATH mark at press time. A successful break above the level would trigger a further 20% surge next.
What Does On-Chain Data Say?
According to data from IntoTheBlock, recent gains have come from the growing market interest in memecoin. Whales likely contributed to the rising volumes as large transactions have jumped by 11.11% to a month high.
This spike showed that whale activity around the TURBO coin has increased. However, more than 97% of the holders were profitable. At the same time, only 3% of out-of-money holders faced unrealized losses.
This data indicated that a profit booking at the highs may be seen. These profitable holders may offload their holdings anytime soon. The OI-weighted funding rates were noted at around 0.0112% at press time. It highlighted a demand for long positions.
Going forward, the Open Interest (OI) has risen over 12.07% to $108.79 Million over the past 24 hours. This signaled a prolonged buildup activity.
The immediate support zones for TURBO were $0.01080 and $0.01000. On the other hand, the upside hurdles were $0.01180 and $0.01250.
