⚠️$INIT / USDT – Significant Drop Followed by Minor Rebound
$INIT has experienced a substantial -20.18% decrease today and is currently trading at $0.6454. After hitting a 24-hour low of $0.6254, we're seeing a slight 4-hour increase of +0.23%. It's crucial to watch if this small bounce can develop into a meaningful recovery.
Key Observations:
The sharp decline indicates strong selling pressure. The current minor uptick needs confirmation with increased volume to suggest a potential trend reversal.
Levels to Watch:
* Resistance: The previous levels around $0.70 and potentially $0.80 (the 24-hour high is $0.8100).
* Support: The 24-hour low of $0.6254. Breaching this could lead to further downside.
Exercise caution and monitor price action closely.
