Over the last week, whales have added around 524.4 million TURBO tokens, with a value of $2.17 million.
An improvement in the profit-to-loss ratio of the daily on-chain transaction volume suggests that investors are starting to see a return on their investment.
Investors in Turbo (TURBO) have shown significant signs of recovery after a protracted period of uncertainty. It can mean a change in the market mood and a resurgence of optimism.
Turbo price was trading at $0.00417 at the time of writing, showing a remarkable intraday rise of 7.25%. When considering both the weekly price performance and intraday gains, Turbo sits at a substantial 19% gain, suggesting a solid comeback.
Despite the cryptocurrency showing hints of a comeback from its lows, the market as a whole is still wary. Turbo continues its long-term negative trend, which is causing problems for the asset's price, even if recent activity by the top addresses, also known as whales, has generated confidence.
Reviving Turbo Whales
Turbo cryptocurrency price swings have been heavily influenced by the top addresses, often called whales. Walruses have amassed approximately 524.4 million TURBO tokens, or more than $2.17 million, in the last seven days. The crypto whales seem to be expecting a price spike in the near future, based on their considerable accumulation of 0.76 percent.
Entities with a lot of money and resources are called "whales" or the top addresses. Therefore, it is impossible to disregard the buildup by whales. So, Turbo pricing has a chance to get steam again and soar higher, maybe even breaking through the upper supply levels and into bullish zone.
Conversely, investors have begun to see a benefit as the loss curve for average 30-day on-chain transaction volume has decreased from $325 million to $278 million, suggesting that they have generated a profit in the last week.
The ROI for on-chain transactions as measured by 30-day MA has increased from 0.84 to 0.993 in the last week. In other words, for every transaction that loses money, 0.93 of them end up making money.
This ratio would reach 1 as the price of Turbo rose, showing that more investors were making money than losing it.
Potential Risk or Gain for Turbo Investors: Forecasting the Price.
The turbo price recovered well from its lows, as it rose 19% in a week. The price has broken over the 50-day exponential moving average (EMA), suggesting a possible short-term upswing in the cryptocurrency market.
The Turbo price was found to be lingering in the Fibonacci retracement tool's golden zone when the technique was applied from the latest swing high to low. This area has the ability to limit progress in the upward direction.
Nevertheless, the current price increase, together with significant buildup of wallets, suggests a possible violation of the safe zone. If the TURBO bulls can successfully turn this resistance into support, the asset price may be able to recoup its losses and exit the corrective period.
