$TURTLE TURTLE
Breakdown Bearish: TURTLE reaches a new historical low, down 15.4% weekly, as strong selling pressure pushes it below key moving averages.
Risk of Short Squeeze: Extreme market positioning with 95% long positions and significant institutional outflows create a high risk of cascading liquidations.
Supply Pressure: Daily unlocks of around 595,000 tokens are adding constant selling pressure, acting as a brake on price recovery.
Positive Fundamentals: Despite the decline, the project has recently secured total funding of $11.7 million and launched staking, showing progress in long-term development.
Bearish Trend and Squeeze Risk
The price is at a historical low ($0.0545), down 15.4% weekly, below key EMAs.
Extreme positioning with 95% long positions and large outflows create a high risk of a squeeze on the longs.
Developments vs. Market Reality
The project has secured total funding of $11.7M and launched staking and cross-chain features.
Despite positive news and new listings on exchanges, the price has significantly decreased since its launch.
Trading and Staking Opportunities
Users can stake TURTLE to gain governance rights and rewards.
Perpetual futures are available, allowing for advanced trading strategies and risk management.
Key Levels to Monitor
Critical support lies at the historical low of $0.0536.
Resistance is near the $0.0580 level.
