$INIT attempting recovery—bulls testing resistance at $0.6927 with breakout potential!
$INIT is trading at $0.6927, slowly recovering from a steep drop of over -12.19% from the previous 24H high of $0.8319. While the token remains under broader sell pressure, it’s now forming a base near the $0.6600s and challenging a key local resistance with 73.44% buy-side dominance in the order book.
Key Levels to Watch:
Resistance Zones:
• $0.7000 – Immediate breakout resistance
• $0.7250 – Minor recovery target
• $0.7600 – Next strong resistance from recent consolidation
Support Zones:
• $0.6860 – Local intraday support
• $0.6700 – Recent accumulation zone
• $0.6609 – 24H low and major downside pivot
Trade Setup – Reclaim in Progress or Relief Bounce?
Bullish Entry:
If INIT breaks and holds above $0.7000, potential upside targets:
• TP1: $0.7250
• TP2: $0.7600
Bearish Entry:
If price rejects at $0.6927 and dips below $0.6860, likely downside targets:
• TP1: $0.6700
• TP2: $0.6600
Stop-Loss:
• Long SL: Below $0.6850
• Short SL: Above $0.7005
$INIT is at a decision zone after a harsh pullback—watch for volume confirmation and a clean breakout above $0.7000.
