$INIT Bearish Pressure Mounts: Breakdown or Rebound Ahead?
$INIT is trading at $0.8285, showing weakness after repeated rejections from the $0.8600+ resistance range. Price is now hovering near local support, and a critical decision point is approaching.
Key Levels to Watch:
• Resistance Zone: $0.8430 – $0.8600
A strong breakout above this range could trigger upside momentum toward:
• TP1: $0.8800
• TP2: $0.8990
• Support Zone: $0.8250 – A close below this level may signal downside continuation toward:
• TP1: $0.8000
• TP2: $0.7730
Trade Setup: Prepare for Directional Move
• Bearish Scenario: If price breaks below $0.8250 with volume, sellers could drive $INIT further down to retest broader support levels.
• Bullish Scenario: A bounce and sustained reclaim above $0.8430 may revive short-term bullish interest.
• Stop-Loss: Place tight stops near $0.8230 (for longs) or $0.8640 (for shorts) to limit downside risk.
Momentum is shifting—stay alert for confirmation from volume and candlestick structure.