In the last 24 hours, Turbo Token ($TURBO) has experienced a major breakout. The memecoin increased 43.27% in a day and is now exchanging hands at $0.006331. This shows a strong bullish trend in the daily time frame. Moreover, it broke out of its key resistance level around the $0.005000 that was last tested in May.
With over 8.21 billion TURBO tokens being traded today, its volume has increased to $541.9 million, a massive increase of 904%. Adding to this, the latest breakout candle is also one of the largest green bars in recent weeks, indicating increasing bullish momentum as the market is fundamentally growing.
With the increasing spotlight for the memecoin in the market, the volatility in the chart is constantly rising. Moreover, both short-term and long-term holders may show signs of major movement if the uncertainty intensifies as the chances of profit-booking may skyrocket.
The surge in the volume bar shows a significant spike, suggesting a strong trend reversal in the crypto market. With this, investors & memecoin enthusiasts in the market are closely watching to understand if TURBO will support itself above the 0.006300 level this week.
Considering the present market statistics, the key resistance levels of TURBO meme coin are set at $0.008000 & $0.009800. Maintaining the value above that level could result in it heading toward its upper target price of $0.011500 in the near future.
On the contrary, a retest to $0.005000 cannot be neglected if the bearish sentiment increases. Other important support areas for the Turbo price are placed below at the levels of $0.004700 or $0.003100.
