$INIT/USDT Technical Update
Current Price:$0.3912
24h Change: +10.22% (Bullish Momentum)
📈 Key Resistance Levels (Upside Targets)
🔹 $0.42: Immediate hurdle (aligned with MA50 & recent swing high).
🔹 $0.48:Mid-range resistance (Fibonacci 0.618 retracement zone).
🔹 $0.53: Previous peak (breakout could trigger FOMO buying).
📉 Critical Support Zones (Downside Protection)
🔹 $0.38: Dynamic support (MA20 + short-term trendline).
🔹 $0.35:Congestion area (June’s consolidation floor).
🔹 $0.32: Strong historical demand zone (must hold for bullish structure).
🔬 Market Structure & Signals
🔹 Bullish Engulfing Candle on the daily chart confirms buyer dominance.
🔹 RSI at 62: Neutral but leaning upward (room for growth before overbought).
🔹 Volume Spike: 2x average, suggesting conviction behind the move.
⚡ Short-Term Scenario
🔹 A close above $0.40 could target $0.45 swiftly.
🔹 Failure to hold $0.38 may lead to a retest of $0.35 support.
❗ Reminder: Markets are volatile. Use stop-losses and validate setups. Not financial advice.