Turbo price has surged over 900% in the past 30 days, sparking interest among investors. On Tuesday, during European trading hours, TURBO was priced at around $0.0066, reflecting a 3.3% increase in the last 24 hours but a 27% decrease over the past 7 days.
Turbo is the first crypto meme coin created entirely using Chat GPT-4 with a budget of $69. Riding the wave of the developing crypto AI narrative, TURBO’s price has skyrocketed, showing no end in sight to its bullish momentum.
Turbo Price Analysis: Bulls Look to Extend Gains By 76% After Correction
TURBO’s price is trending well above the 50-day and 200-day simple moving averages (SMA), indicating a bullish signal. After reaching an all-time high of $0.00984, the price rise paused as bears attempted to push it lower.
The price has since retraced to the 0.5 Fibonacci retracement level around $0.0055 and appears poised to bounce off the support forming at this level. This bounce in the price of Turbo may rise to the 0.27 Fibonacci extension level around $0.012, a 76% increase from the current price.
Additionally, TURBO’s price action is forming a bull pennant, which could propel it even higher to $0.016 if it breaks to the upside. On its ascent, TURBO may encounter key resistance points at $0.0098, $0.0115, and $0.012. Conversely, in a downside scenario, the meme coin may find support around $0.0031, $0.0022, and $0.0012.
TURBO Price Remains Bullish Amid New Exchange Listing
On June 3, 2024, TURBO secured a listing on the Bitunix crypto exchange, which boasts over $390 million in daily trading volume and more than 180 cryptocurrencies listed.
Introducing the latest addition to Bitunix! 🎉
➡️ @TurboToadToken ( $TURBO ) trading is now available on the platform.
▶️ Start Trading: https://t.co/99wYJjib9V pic.twitter.com/2NLgGYD2sH
— Bitunix (@BitunixOfficial) June 3, 2024
Since its launch, TURBO has benefited from numerous free listings on various exchanges, catapulting its market cap to over $450 million.
According to Santiment, an on-chain analysis firm, TURBO’s trading volume reached an all-time high late last week as the coin surged to its highest price ever. Additionally, the Market Value to Realized Value (MVRV) Z-score for the past 30 days is at 0.39. This metric suggests that TURBO may be in a favorable buying range as long as the Z-score remains below 1.48.
Read Also: The Most Promising AI Cryptocurrencies to Buy in 2024
Bottom Line
As the crypto AI narrative matures, Turbo may take a leading role as the industry’s crypto mascot. Investors are closely watching TURBO’s price to find good entry opportunities for making handsome returns on investment.
Learn More
- Next Cryptocurrency to Explode in 2024
- 10+ Best Altcoins to Invest in 2024
- Latest Crypto Price Predictions
- Epoch Times CFO Faces $67M Crypto Fraud Charge
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.