【Breaking! TURBO surges 23% to a three-month high, but hidden signals of a pullback, what’s the real story behind it?】

TURBO skyrocketed 23% in the past 24 hours, breaking the highest point in three months, reaching $0.0059, but then experienced a pullback. Why is a retracement almost inevitable after a short-term rise? Let’s delve into the analysis.

The driving forces and risks behind TURBO's rise

TURBO saw a remarkable rise of 23% within just 24 hours, hitting a new high of $0.0059. However, the momentum did not sustain, and the price slightly retreated, currently trading at $0.00553. Nevertheless, this increase still maintains a daily gain of 23%, with trading volume surging 123.5%, reaching $352.4 million.

Behind the rise, bearish sentiment among institutions intensifies

Since April 22, TURBO has cumulatively risen 172%, with a market cap exceeding $370 million. However, the futures market shows that 52% of traders hold a bearish outlook, reflecting a general cautious sentiment in the market.

Fundamentals and speculative fervor: the true driving forces behind

TURBO’s fundamentals indicate potential organic demand, especially with a surge in active addresses. The pace of price growth has outstripped the increase in network activity, suggesting that the coin's upward trend is not entirely driven by speculation. However, speculative factors still dominate, especially in the futures market, where many investors chose to take profits after the price increase.

Increased risk of pullback, adjustments may be seen in the short term

Despite TURBO's strong short-term upward momentum, the RSI indicator has entered the overbought zone, reaching 82.68, suggesting excessive buying pressure. As market sentiment shifts, the risk of a short-term pullback also increases. If a pullback occurs, the price may retreat to $0.00498. However, if speculative fervor continues in the short term, TURBO could potentially challenge $0.0064.

Conclusion: TURBO is at a critical moment

While the fundamentals and market activity support TURBO's rise, the risk of a pullback in the short term cannot be ignored. Investors should pay attention to changes in market sentiment, especially bearish signals in the futures market, to decide whether to continue holding or take profits.