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The Turbo price surged over 24% in the last 24 hours to trade at $0.001936 as of 7:55 a.m. EST as investors rush to buy the Ethereum AI meme coin.
The pump in the TURBO price comes amid an increase in the collective value of Ethereum tokens as the market awaits a potential approval of a spot ETH ETF (exchange-traded fund). With this anticipation building, the Ethereum ecosystem’s capitalization has risen over 3% in the last 24 hours.
Altcoin leader ETH soared more than 6% through the past day of trading and 30% in a week.
The Turbo Price Forms A Bullish Channel
4-hour chart for TURBO/USD (Source: GeckoTerminal)
The Turbo price printed a series of higher highs and higher lows on the 4-hour chart throughout the past couple of days. This resulted in the formation of an ascending price channel. TURBO managed to overcome the major resistance level at $0.001802 as well during the last 24 hours.
If this bullish momentum persists, the Turbo price might attempt to flip the next major resistance level at $0.002111 into support. On the other hand, TURBO breaking below the recently-breached $0.001802 mark in the next 12 hours could invalidate the bullish thesis.
In this alternative scenario, the Turbo price might fall to the subsequent support at $0.001504 in the short term. Continued sell pressure should the crypto drop to this price point could then lead to it plummeting to as low as $0.001141 in the next few days.
Technicals Warn Of A Turbo Price Correction
Technical indicators on TURBO’s 4-hour chart are starting to show bearish signs, which might lead to a price correction. More specifically, the Bollinger Bands (BBANDS) and the Moving Average Convergence Divergence (MACD) indicators warn of a potential drop in price in the coming 24 hours.
The Turbo price is trading near the upper boundary of the BBANDS on the 4-hour chart. Traders usually identify this as a sell signal. However, bulls could continue to push the crypto’s price higher in the short term if they are able to keep their positive momentum going.
Meanwhile, TURBO currently finds itself in a bullish trend, as signaled by the MACD line’s position above the MACD Signal line. This positive cycle might soon come to an end, however, since the MACD is collapsing towards the MACD Signal line.
A cross between these two technical indicators could signal that the Turbo price has entered a negative short-term cycle. Together with the Turbo price’s position near the upper boundary of the BBANDS, the narrowing gap between the MACD and MACD Signal lines suggests traders have already started realizing profit.
There is also the overwhelming sell volume that has flooded TURBO’s charts over the past 4-8 hours. All of these technical factors combined might lead to the Turbo price testing the $0.001802 support soon.
With TURBO at risk of possibly correcting in the next 24 hours, investors might want to take a look at the new presale Mega Dice (DICE) on Solana.
Launching With An Established Brand
Unlike many other cryptos gearing up for launch, DICE is backed by an established, rapidly-growing, global crypto casino brand. With more than 50k players, the Mega Dice crypto casino already has exposure to a large pool of potential investors.
This could be why an analyst from the 99Bitcoins YouTube channel named DICE as one of the top 3 crypto presales with 100X growth potential.
In addition to being a great speculative opportunity, there are several opportunities for investors to earn rewards within the Mega Dice ecosystem.
One of the main ways to receive rewards is to buy and stake DICE tokens. Investors then stand to earn daily rewards.
Seeing as the casino already boasts over 10k active monthly players and more than $50 million in monthly bets, DICE holders who lock up their tokens could earn substantial rewards from the get-go.
Early bird bonuses and limited edition NFTs that can be used to unlock exclusive rewards and benefits will also be distributed to anyone who purchases DICE at this early stage.
Investors Flock To DICE’s Presale
With the abundance of rewards opportunities and its appreciation potential on launch, it’s no surprise that investors have sent over $1.3 million to DICE’s presale thus far. The investor frenzy could also have something to do with the more than $2.25 million airdrop campaign currently running.
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