TURBO Confirms Another Breakout and Retest: More Gains Ahead?
Date: Wed, Oct 09, 2024, 05:44 AM GMT
As the broader cryptocurrency market continues to show mixed emotions—Bitcoin (BTC) trading in the red and Ethereum (ETH) in the green—some memecoins are stealing the spotlight with impressive gains. One standout is the Ethereum-based memecoin, Turbo (TURBO), which has surged over 10% in the last 24 hours. TURBO is currently priced at $0.0072, boasting a market cap of $469 million, putting it among the top gainers in the memecoin category.
Source: Coinmarketcap
TURBO has surged by more than 39% over the past week, thanks to a successful retest of its breakout line at the $0.0049 level. Back on September 20, TURBO experienced a significant breakout at $0.0055, which fueled a rally that pushed the token to $0.0071. However, geopolitical tensions led to panic selling, temporarily pulling TURBO back to retest its breakout line.
Confirming Another Breakout
Today, TURBO has confirmed yet another breakout at the $0.0072 resistance level, followed by a retest that solidified the breakout’s validity. From its current price of $0.007245, the next minor resistance sits at $0.0078. If TURBO manages to surpass this level, there could be more gains ahead for the memecoin.
More Gains Ahead?
Prominent crypto analyst @WorldofCharts recently expressed a bullish outlook on TURBO, noting its history of delivering major rallies after breakouts. In a recent post, he shared:
“#Turbo Looks Good For Midterm Breakout. Retest Has Already Confirmed. Check Recent Chart Data—When Turbo Breaks Consolidation, It Gives Strong Bullish Rallies. Look At Last Breakout, It Gave 1400% Gains!”
Credits:@WorldofCharts
According to @WorldofCharts, with the breakout and retest confirmed, TURBO could potentially see a 200%+ bullish rally in the coming days.
Conclusion
TURBO’s latest breakout and retest confirm the memecoin’s strong upward momentum, with analysts anticipating more gains on the horizon. While the token has already surged significantly in the past week, further upward movement past the $0.0078 resistance level could trigger an even larger rally.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
