TURBOUSDC Market Overview

Summary
• Turbo/USDC rose 18.5% over 24 hours with key break above 0.001830.
• Volatility spiked mid-day, with volume surging to 5.7M at peak.
• RSI shows bullish momentum but nearing overbought territory.

Price and Volume Overview

Turbo/USDC (TURBOUSDC) opened at 0.001778 on 2025-11-06 at 12:00 ET and closed at 0.002092 on 2025-11-07 at 12:00 ET, reaching a high of 0.002094 and a low of 0.001762. The 24-hour period saw total volume of 43,838,824.0 and turnover of approximately $87,129,639.32 (assuming USDC ~ $1.00). The price surged in the late afternoon into evening hours, indicating strong buying interest.

Structure & Formations

The price action displayed multiple bullish formations, including a Bullish Engulfing at 0.001831–0.001842 and a Harami at 0.001825–0.001829. The price then broke out of a tight consolidation between 0.001825–0.001835. A Trend Reversal appears as a 38.2% Fibonacci retracement level at 0.001855 was cleared, pushing the price toward 0.001900. The 61.8% retracement level may now serve as a dynamic support if the price retraces.

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Moving Averages and Indicators

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, confirming a short-term bullish bias. The 50-period MA on the daily chart has also crossed above the 100-period MA, signaling medium-term strength. The 200-period MA remains bearish, indicating a potential conflict in longer-term positioning. The 200-period MA is currently at approximately 0.001810, suggesting further upside may be met with resistance from bearish long-term holders.

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Momentum and Volatility

The MACD crossed into positive territory in the mid-morning, confirming the upward thrust. RSI reached 65 in late afternoon and pushed toward overbought levels near 70, indicating a possible pause or correction. Bollinger Bands reflected a sharp widening after a period of contraction, confirming the breakout in volatility. The price currently sits near the upper band at 0.002092, a potential sign of overbought conditions.

Volume and Turnover

Volume surged after 16:30 ET as the price broke out of the consolidation, reaching a peak of 7,450,519 at 0.002015. The volume spike was accompanied by strong notional turnover, reinforcing the breakout's validity. A divergence appears around 0.001904–0.001906, where volume dipped despite a price increase, suggesting a weakening of the bull move. The overall volume–price alignment remains bullish for now.

Fibonacci Retracements

Key Fibonacci levels for the 15-minute swing include 38.2% at 0.001855 and 61.8% at 0.001885. The daily swing’s 38.2% is at 0.001860, and 61.8% at 0.001910. The price has already pushed past these levels, suggesting a possible continuation toward 0.001975 if the bulls remain in control. A retest of the 61.8% level may be imminent, which could act as a pivot for a pullback.

Backtest Hypothesis

To validate the strength of the recent bullish breakout, a backtest using the Bullish Engulfing pattern on TURBOUSDC could be effective. Historical data indicates multiple occurrences of this pattern within the 24-hour period, particularly at 18:00 ET and 21:45 ET. A strategy that enters long on confirmation of the pattern and exits at the next 15-minute candle high or at the 20-period MA could be tested. The current price surge appears to align with the pattern logic, making it a strong candidate for a systematic entry.