Turbo Crypto token on the upswing: Financial set warns of sales pressure

The Turbo cryptoticks experienced a significant increase this week because the cryptocurrency market gained momentum. The course rose to a maximum of $ 0.005560, the highest level since February, and thus recorded an increase of almost 300 % compared to this year's low.

This increase in Turbo fell together with the recovery of Bitcoin and other old coins. Bitcoin tested the decisive level of resistance of $ 94,000 for the first time in over a month. Other memo cards such as Fartcoin, Pepe, Official Trump and Dogecoin also rose strongly. As a result, the market capitalization of all Memecoins recorded by Coingecko rose by 16.5 % to $ 58 billion.

The price for Turbo rose because the open interest in futures increased to $ 63 million, the highest level since December 17th. He has recovered from a low of this month of $ 13 million, which indicates an increased demand on the appointment market.

However, the risk is that the financing interest rate of coins fell to minus 0.3235 %, the lowest level in history. A negative interest rate indicates a higher demand for short positions, which reflects the expectation of the dealers that the price will fall. The falling negative financing interest indicates that the increase could soon end.

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Technical analysis of the turbo cryptocurrency price

The daily diagram shows that the turbo token reached its low at $ 0,0001366 this month. Then he recovered and reached a high of $ 0.005560 on Wednesday.

He has overcome the decisive level of resistance at $ 0.003045, which was its deepest vibration point in June and August last year.

The coin has moved over the 50-day average, which points out that the bulls are currently in control. Oscillators such as the relative strength index (RSI) and the moving average convergence divergence (MACD) point upwards.

Therefore, the coin will probably fall to test the support at $ 0.0030 again, which corresponds to the strong pivot and the reversal of the Murrey Math Lines tool. Further profits are confirmed if the price increases the decisive resistance point of $ 0.005560. Such an increase would drive him to resistance at $ 0.007735.