- TURBO shows strong buyer interest with a 218% monthly gain, forming higher highs and support at $0.00508.
- RSI at 68.40 signals strength, nearing overbought; volume spike supports potential for a breakout above $0.00673.
- Despite long term bearish MAs, current price action and holder count growth hint at a short term bullish continuation.
TURBO continued its upward movement on May 5, with the token trading at $0.00557, a 17.80% increase in the past 24 hours. This surge also marked an 11.19% weekly gain and a 218.41% rise over the past month. The market cap reached $384.3 million, gaining by 17.85% in the same 24 hour span.
Trading volume rose to $226.2 million, up by 137.58%, suggesting a rise in investor activity. The token’s fully diluted valuation matched its market cap at $384.3 million. The volume to market cap ratio is at 58.6%. The current holder count is at 54,020, with the circulating, total, and maximum supply all at 69 billion TURBO tokens.
Price Momentum and Short Term Support Zones
The price has bounced from mid April lows near $0.0018, forming higher highs and higher lows. That trend shows sustained buyer activity. The prices have respected key levels.
The token’s support is near $0.00508, which marked the day’s low, and at $0.00396 based on the 20 day simple moving average. Resistance remains at $0.00673, aligned with the upper Bollinger Band, and at the psychological level of $0.00700.
Bollinger Bands show the price near the upper band at $0.006734, while the middle band is at $0.003964. The lower band is far below at $0.001194. This suggests increased price volatility and strong recent momentum.
RSI Levels and Market Strength Indicators
According to technical indicators, the current Relative Strength Index is 68.40, moving close to the 70 overbought levels. The RSI moving average is slightly higher at 72.54, indicating growing market strength. However, the value is below the overbought zone.
This suggests potential for upward continuation if volume remains supportive. There have been volume spikes, particularly in late April and early May. This adds further strength to the ongoing trend. The market outlook remains intact as long as TURBO holds above the $0.0050 support.
Long Term View and Historical Resistance Points
Looking back, TURBO peaked in December 2024 above $0.013, before entering a steep downtrend. Turbo is down over 90% from its high.
The 50 day moving average is at $0.001241, while the 200 day average is much higher at $0.002298. These levels indicate strong long term bearish pressure. Daily active addresses also declined from their December highs, with only 272 recorded on April 5.
Based on current technicals, short term resistance is near $0.00673. A breakout above could target $0.0072–$0.0075, while a retracement may test $0.0048.
