Which route for Turbo?
Where to next for Turbo toad?
Green: $0.0035-$0.005. Short lived consolidation zone.
White: circa 75% drop from ATH to the 0.786, entirely possible for a meme coin even during a bullish period. Also Turbo has found support near the 0.786 after previous sustained positive moves.
Red: descend at previous bearish angle of descent, and finds support at the logarithmic support line which it has done before (+ confluence with previous ATH region). I think a price drop of 85%, post halving, might be pretty disastrous for momentum, especially with a saturated meme market.
Blue: confluence between log support trend-line and 0.786. It has done this before (at least near to support line), but this would be very protracted move in this occasion.
All potential hypothetical DCA zones (i'm happy with my bag and wont be buying more),with increasing buy-ins as price descends, however I would be cautious if red plays out.
Green: $0.0035-$0.005. Short lived consolidation zone.
White: circa 75% drop from ATH to the 0.786, entirely possible for a meme coin even during a bullish period. Also Turbo has found support near the 0.786 after previous sustained positive moves.
Red: descend at previous bearish angle of descent, and finds support at the logarithmic support line which it has done before (+ confluence with previous ATH region). I think a price drop of 85%, post halving, might be pretty disastrous for momentum, especially with a saturated meme market.
Blue: confluence between log support trend-line and 0.786. It has done this before (at least near to support line), but this would be very protracted move in this occasion.
All potential hypothetical DCA zones (i'm happy with my bag and wont be buying more),with increasing buy-ins as price descends, however I would be cautious if red plays out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.