Analysis of the TURBO asset$TURBO
Trend situation:
The chart shows a significant price pullback from the previous high, indicating a bearish trend. The price fell by 34.63%, confirming the current downtrend.
The asset is currently in the support zone (between 0.005085 and 0.004910), where a bottom may form before a possible reversal.
Indicator:
Ichimoku: The price is below the Ichimoku cloud, which indicates a continuation of the downtrend. However, the next increase towards the cloud may signal an attempt at correction.
Bollinger: Price is trying to bounce off the lower Bollinger band, which may indicate a possible upward pullback in the short term.
Parabolic SAR: SAR dots are above the current price, confirming the downward movement.
Moving averages:
MA(7), MA(25), MA(99): The price is below all major moving averages, which is a sign of bearish sentiment. However, if the price can break the resistance level around 0.005433, it may signal a trend reversal.
Trading volumes:
Volumes are quite high, indicating significant trading activity. This may lead to volatility in the coming periods, especially when approaching resistance or support levels.
Support and resistance levels:
Support: Strong support is in the 0.004910–0.004804 zone. If broken, the next support level will be 0.004387.
Resistance: Key resistance is at 0.005433, which also coincides with the upper boundary of the Bollinger Bands. If the price can break through this level, a more significant increase is possible.
Strategies:
Short-term: If support around 0.004910 holds, a short-term rebound can be expected. If the price breaks 0.005433, it could be the start of a medium-term uptrend.
Medium-term: Continuation of the bearish move is possible if the price fails to hold above the level of 0.005108. A break of the support of 0.004910 may increase pressure on the price and lead to a decline to 0.004387.
It is recommended to monitor trading volumes and price reaction to the nearest key support and resistance levels.