Turbo's Value Climbs 33%, Approaches $1 Billion
The market price of TURBO cryptocurrency is $0.011 at the moment, reflecting a move of -10.26 percent over the last 24 hours, as the cryptocurrency enters a small localized retracement.
The pullback occurs as the bulls try to hold on to the massive 90% gain they've made in the last five days, which followed significant technical strengthening after a breakout that lasted for months.
Actually, TURBO's chances seemed doomed as they were stuck by resistance originating from a multi-month descendent upper-trendline since June.
On the other hand, TURBO price gained a footing around $0.006 after an initial breakout on September 19 and a re-test of the upper trendline on October 2. This created the ground for lift-off, as the 20DMA pushed high.
Is Turbo meme currency going to reach $1 billion in market capitalization? The meme coin supercycle has arrived, and Turbo crypto is seeing a significant breakout as its price surges up.
This week's huge pump has sent the relative strength index soaring to 71.5, far into overbought territory.
We are now in the price exploration phase, and the $767 million market cap of TURBO is the focus of everyone's attention. As $1 billion is the clear objective for bulls, representing a possible increase of 30.8% from this point forward.
Looking at the bigger picture, TURBO's bulls need to be able to keep up this pace for the cryptocurrency to reach a market valuation of $1.25 billion, which would be a 68% increase from where it is now. This would be comparable to another recent breakthrough, POPCAT.
It follows that TURBO crypto would soon aim for a price range of $0.0145 ($1bn) to $0.0185 ($1.25bn).
View our most recent YouTube technical breakdown for further insight.
The 68% increase from TURBO crypto doesn't excite FOMO traders, but the spectacular STORJ crypto gain this week shows that comparable returns might be achieved from lower-risk utility tokens.
