The post Turbo crypto gains 49% in 3 days – Minor dip next? appeared on BitcoinEthereumNews.com.

The quick gains since last Saturday occurred on sizeable demand. Liquidation levels highlighted a potential range formation around $0.007. Turbo [TURBO] was quick to recover from the slump it saw in early October. Last weekend, after flipping the $0.005 level to support, TURBO rocketed higher to reach the $0.0074 resistance level. This represented a 49.2% price move in three days before the minor dip of the past few hours. Earlier on the day of writing, Turbo crypto bulls attempted to flip the $0.0075 level to support. The high trading volume session ended in failure for the bulls. Is the recent selling pressure an early reversal sign? Source: TURBO/USDT on TradingView The price action on the 4-hour chart was strongly bullish, and key resistance levels such as $0.006 and $0.0065 have been converted into demand zones. The Awesome Oscillator histogram showed firm bullish momentum. In the past three days, Turbo crypto bulls have hardly taken a break from driving prices higher. This changed in the past 24 hours. The large candle wick to the upside showed rejection beyond the $0.0074 level. The selling volume of the past two days saw the accumulation/distribution indicator fall lower to signal increased selling pressure. Swing traders can use these clues and wait for a deeper TURBO dip. The $0.0065 and $0.00689 levels can offer a buying opportunity in the event of a retest. Further north, the 61.8% and 100% extension levels at $0.00825 and $0.009 respectively would be the bullish targets for October. Liquidity pockets around TURBO prices Source: Coinglass The volatility in the early hours of Wednesday marked out two levels where liquidation levels have built up. These were the $0.00689 and $0.00786 levels. It is likely that a sweep of either level would see a short-term trend reversal. Read Turbo’s [TURBO] Price Prediction…

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Filed under: News - @ October 10, 2024 1:07 am