TURBO is a meme coin that was launched in 2022. It is an Ethereum-based ERC-20 token that was created using artificial intelligence (AI). TURBO is designed to be a fair and decentralized cryptocurrency that is accessible to everyone.
Turbo Token (TURBO) is created with a futuristic toad mascot, through an experiment in which an artificial intelligence system, GPT-4, was challenged to create the next great meme coin with a budget of $69.
The project’s founder pledged to follow all instructions provided by the AI and document the process. Turbo Token features a futuristic toad mascot and has gained momentum from the enthusiasm of its community.
The project serves as an example of the potential for AI-guided creativity in shaping the world of cryptocurrency.
TURBO was launched using a fair distribution method that ensured that no one person or group had a majority of the tokens. This makes TURBO more decentralized than other meme coins.
TURBO transactions are tax-free, which means that you do not have to pay any fees when you buy, sell, or trade TURBO tokens. This makes TURBO more attractive to investors who are looking to avoid taxes.
TURBO is a community-driven project, which means that the decisions about the future of the project are made by the community. This gives TURBO a more democratic structure than other meme coins.
Can TURBO Crypto Break The Major Supply?
The TURBO asset is demonstrating bearishness and downward momentum as it sinks below the 20, and 50-Day EMAs. Now, subject to the sellers’ surge, bearishness could continue.
The TURBO crypto asset is showing bearish momentum as MACD shows a bearish cross and the RSI falls sharply, indicating that the asset is not gaining steam and could drop lower. Meanwhile, MACD is at 0.00001642 taking rejection from the signal line, and simultaneously, RSI curve which is at 47.61 is below the median line showing the price is bound in the bearish domain.
The TURBO crypto registered a decline of 7.76% in the last 24 hours, trading at $0.00035416.
The TURBO crypto is on the verge of a sharp decline, as it encounters the resistance level earlier and the current resistance is the trendline and it slides to form lows concurrently with the trendline.
Therefore, if the TURBO crypto price fails to stay above the $0.00032500 level, it could decline further.
However, if the demand for the TURBO surges, the crypto price could turn around from the current level. Then the next goal for the TURBO price is to reach $0.00055500.
Summary
The price action of the TURBO crypto is bearish on the daily chart as it started depriving from major supply and afterward, it started to follow trendline resistance.
Moreover, other tools including EMAs, MACD, and RSI show bearishness and suggest a bearish outlook for the upcoming future sessions.
Technical Levels
Support Levels: $0.00032500
Resistance Levels: $0.00055500
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
Source: https://www.thecoinrepublic.com/2024/01/17/can-turbo-crypto-show-bigger-movements-in-january-and-beyond/