Turbo crypto surged 25% on Christmas Eve, driven by strong AI sector traction. This “Santa rally” lifted AI agents and NFT segments by 8% and 5%, respectively. As an AI memecoin, Turbo crypto benefited from the sector’s growth.
The token’s daily trading volume increased by 200% to $370M, reversing nearly half of its December losses. However, can this recovery be extended?
Turbo crypto has historically rebounded at its mid-range level, a phenomenon known as a “Santa rally.” If past trends repeat, the token may consolidate at this level before attempting to break through its range-high of $0.014, which would offer a 30% potential gain.
However, if the price decisively moves below the 50-day Moving Average, the projection will be invalidated. The current RSI on the 12-hour chart suggests potential room for growth, but the CMF is still below average, indicating that capital flows are not yet sufficient to push the recovery forward.
Additionally, 85% of Turbo crypto holders have profited, exposing the asset to potential profit-booking if price stalls at the mid-range. This has led to a significant number of leveraged short positions, as illustrated by the liquidation heatmap.
Unless there’s a violent short squeeze, stalling above the mid-range could drag the token back down to its range lows or below the 50-day MA.
Source: https://ambcrypto.com/will-turbo-cryptos-25-surge-extend-beyond-the-holiday-season