$TURBO coin's recent decline can be attributed to various market and technical factors.
Here are some key points to consider:
- *Current Price Trend*: Turbo's price has declined by 11.43% to $0.004947, with a 24-hour trading volume of $110.56 million. The coin's price is currently experiencing a downturn, with a market cap of $341.39 million.
- *Market Sentiment*: Despite the current decline, technical indicators suggest a bullish sentiment, with 22 indicators signaling "buy" and 6 signaling "sell". The Fear & Greed Index stands at 65, indicating a "greed" zone.
- *Moving Averages*: Turbo's 50-Day SMA is estimated to hit $0.007713 by June 2, 2025, while the 200-Day SMA is predicted to rise to $0.006137. The RSI value is at 74.96, indicating an overbought position.
- *Price Prediction*: According to CoinCodex, Turbo's price is predicted to rise by 226.20% and reach $0.017361 by June 2, 2025. However, the current trend suggests a potential short-term decline ¹ ².
Some potential reasons for the decline include:
- *Market Volatility*: Cryptocurrency markets are known for their volatility, and Turbo is no exception.
- *Decrease in Market Activity*: The trading volume of Turbo has increased by 68.40% in the last 24 hours, but this might not be enough to drive the price up.
- *Global Economic Conditions*: Changes in global economic conditions can impact cryptocurrency prices.
