Turbo Price Faces Dip: Is it Best Time To Grab The Opportunity?

Turbo Price Faces Dip: Is it Best Time To Grab The Opportunity?
The supply held by the top addresses have surged by a significant 1% in the last one month.
At the time of writing, Turbo was down nearly 3.15% and was trading close to $0.0056.

Turbo price seemed to be declining in the recent sessions after a strong surge of nearly 70% in the earlier sessions. The TURBO price registered a strong breakout of a trendline resistance in the previous week and jumped 70% in a couple of sessions.

Earlier, Turbo had been in a correction phase since Mid may after suffering rejection from a psychological $1 level. The price dropped suffering multiple rejection from a trendline resistance. The recent breakout marked the end of a correction phase.

The broader market turmoil has dragged Turbo price down in the recent sessions. However it may be a great opportunity for an accumulation as the Top addresses are also doing the same. The top addresses were found accumulating turbo in the last one month.
Whales Accumulating Turbo Cryptocurrency
The top addresses seemed to be accumulating TURBO in the last one month as evident from the supply held by the top addresses. The top addresses often referred to as whales have added nearly 63.6 Million TURBO tokens to their portfolios adding up to almost 1% of the total supply.

Whales generally have more resources and information than that of the retailers. They have larger investments, hence they tend to be on the right side of the trend. The price may show gains as the whales have increased their holdings in Turbo.

It has a live market capitalization of $356.47 Million and ranks 213th in the cryptoverse. The transaction volume has dropped by 13.51% to $91.74 Million suggesting a waning interest of the sellers. The volume to market cap ratio at 26.14% indicates high volatility.


Is Turbo A Buy On Dip Opportunity For The Investors
From a technical standpoint, Turbo price hovers comfortably above the all the key exponential moving averages of 20, 50 and 200 days suggesting a strong positive trend prevailing. The recent selloff may turn out as a buy on dip opportunity as the key EMAs may offer dynamic support and Turbo price may bounce back higher.

Moreover, while applying Fibonacci tool from the recent swing low at $0.0031 level to recent swing high at $0.0080, the golden zone was observed between $0.0055 and 0.0050. The golden zone acts as a key area for a trend continuation.

As of now, the Turbo price seemed to be nearing the golden zone of Fibonacci and might bounce back after retesting it. The recent breakout has already confirmed the end of a correction phase. Any bounce from the golden zone may indicate a trend continuation towards the higher side.

On the contrary, the pullback may turn into a bearish reversal if the price looms below the $0.0042.
Is Turbo Poised For A 40% Gain Ahead?
Turbo price surged nearly 70% after breaking out of a trendline resistance. However, the price has declined in the recent sessions due to broader market turmoil. This dip might be a good accumulation opportunity as top addresses (whales) have added 63.6 million TURBO tokens, about 1% of the total supply.

From a technical perspective, Turbo remains above key EMAs (20, 50, 200 days), indicating a strong positive trend. The price is nearing the Fibonacci golden zone ($0.0055-$0.0050), suggesting a potential bounce and trend continuation. However, a drop below $0.0042 could signal a bearish reversal. The recent breakout has confirmed the end of the correction phase.


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