Technical analysis by MJVeats about Symbol TURBO on 5/9/2025

Hey traders! 👋TURBOUSDT has been catching some serious attention lately, and for good reason. After a sharp rally, it’s now forming one of the most powerful bullish continuation patterns out there — an ascending triangle.Let’s take a closer look at what’s happening here 👇📐 Technical Structure: Ascending TriangleThe chart clearly shows higher lows pressing against a horizontal resistance — a classic ascending triangle. This often signals that buyers are building pressure and a breakout could be around the corner.Key Observations:Flat Resistance: Around the 0.00629 area. Price has tapped it multiple times, showing strong supply.Rising Support Trendline: Buyers are stepping in at higher levels, tightening the range.Volume: There's a noticeable increase in volume near the resistance, which could fuel the breakout.🎯 Target Levels if Breakout OccursIf price breaks above the horizontal resistance with strong momentum, here are the potential targets based on recent structure and extension zones:TP1: 0.008846TP2: 0.010783TP3: 0.013338TP4 (Stretch Target): 0.014000Each level aligns with key psychological or historical resistance zones.⚠️ What Could Go Wrong?Not every triangle breaks upward — here's what to watch for:False Breakouts: A wick above the resistance without follow-through could be a trap.Break of Ascending Trendline: If price falls below the rising support, this could invalidate the pattern and trigger a deeper pullback.Volume Drops: Weak volume during breakout attempts often signals a lack of conviction.🛠️ How to Approach This TradeWait for Confirmation: Look for a candle close above 0.00629 with increased volume.Manage Risk: Set a stop-loss just below the ascending trendline or recent swing low.Scale Out: Take partial profits at each target level to lock in gains.📌 Final ThoughtsTURBO is gearing up for a potential explosive move. Whether it breaks out or fakes out, this pattern is one to watch closely. Keep alerts on the breakout zone and be ready for action — but as always, protect your capital first.📢 Do you think it’ll explode from here, or is this another bull trap? Let me know in the comments below and share your own analysis!