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The Turbo price plunged over 12% in the last 24 hours to trade at $0.006175 as of 7:25 a.m. EST as investors offload their holdings in the meme coin on the market.
Despite this recent retracement, the TURBO price is still well in the green by more than 43% on the weekly timeframe.
The Turbo Price Testing A Critical Support Level
4-hour chart for TURBO/USD (Source: GeckoTerminal)
A bearish descending triangle has formed on TURBO’s 4-hour chart after the meme coin printed a series of lower highs over the past 24 hours. Now, the crypto is testing the key support level at $0.006200. A break below this significant price point might lead to TURBO falling to the subsequent mark at $0.004773.
On the other hand, the Turbo price maintaining a position above the $0.006200 support could invalidate the bearish thesis. In this alternative scenario, the meme coin might attempt to rise towards the $0.007440 resistance level. Overcoming this threshold could then give the crypto the foundation needed to potentially rise to as high as $0.008619 in the short term.
Technicals Suggest The Turbo Price Might Continue To Drop
Technical indicators on TURBO’s 4-hour chart warn that the meme coin’s price could continue to drop in the next 24 hours. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are showing negative signs.
Over the past 24 hours, RSI readings have dropped from 82 to below the 50 benchmark. TURBO’s RSI on the 4-hour chart falling below 50 could suggest that sellers have gained the upper hand against buyers. As a result, it might be easier for bears to pull the Turbo price down in the next 24 hours than it will be for bulls to push it higher during the same period.
Meanwhile, the MACD line crossed below the MACD Signal line throughout the past day of trading. Traders usually see this as a sign that a crypto has entered a negative trend. What’s more, the growing gap between the two technical indicators could signal that the bearish momentum is intensifying.
With the Turbo price still at risk, investors might consider diversifying into WienerAI (WAI), one of the most successful presales of 2024 that is now offering a last chance to buy.
An AI Meme Coin Offering Traders A Sophisticated Toolkit
WienerAI (WAI) is an unconventional meme coin because it comes with high levels of utility. With its state-of-the-art AI technology, the project aims to assist traders and investors make more informed decisions in the highly-volatile crypto market.
Its trading bot is trained to analyze heaps of crypto market data, and is able to continuously take in chunks of information to uncover hidden insights and trade opportunities that even a veteran trader would likely miss.
Users can therefore focus their attention on timing their trades to perfection and calculate the optimal portfolio allocation for each position.
To further empower traders, WienerAI’s ecosystem also includes a seamless token swap solution and MEV protection. As a result, traders can take advantage of scalp opportunities as soon as they appear without potential delays due to MEV bots.
All of these features have captured the attention of Crypto Gains, a YouTube channel boasting 135,000 subscribers. In a recent video, an analyst from the channel urged investors not to miss out on WAI before its presale ends.
Investors Rush To Buy WAI At Presale Prices
Having already raised over $7 million, WienerAI’s ICO will end in a little more than 7 days. This means that investors have one last chance to purchase the meme coin at this early stage as well as gain access to its lucrative staking opportunity.
Forged with the power of AI!
Get ready for WienerAI! 🌭⚡️ pic.twitter.com/83p1CAXY1A
— WienerAI (@WienerDogAI) July 21, 2024
Anyone who acquires and locks up WAI before the conclusion of its successful ICO will be eligible for a 144% Annual Percentage Yield (APY).
To get in on these high staking rewards, investors will need to buy the token via the simple buy widget embedded on the project’s website. Selling for $0.00073, WAI can be bought using either ETH, USDT, BNB or bank card.
Purchase WAI here before its presale ends.
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