$INIT ๐งช INIT/USDT โ INITIATING A COMEBACK OR DEAD CAT BOUNCE? ๐ฉป๐
INIT has seen a deep dive from $0.7980 to $0.5431 โ but is this recent bounce the start of a recovery, or just a trap for bulls?
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๐ INIT Stats Overview:
๐ฐ Current Price: $0.5889
๐บ 24h High: $0.6218
๐ป 24h Low: $0.5431
๐ 24h Change: -1.60%
๐ Volume: 24.63M INIT / 14.54M USDT
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โฑ 1H Chart Breakdown:
MA(7): ๐ก $0.5772
MA(25): ๐ด $0.5936
MA(99): ๐ฃ $0.6682
๐ Trend Watch:
Downtrend dominant, but early signs of a bottom are forming. Price is pushing back into the MA(25) zone โ a potential pivot point!
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โ Spot Strategy โ Catch the Reversal? ๐งฒ
๐น Entry Zone: $0.5650 โ $0.5900
๐ฏ Targets:
TP1: $0.6250 ๐ฏ
TP2: $0.6600 ๐ฅ
TP3: $0.6980 ๐
โ Stoploss: Below $0.5400
๐งฉ Why Enter?
Sharp drop might have found local support โ volume is building, and RSI likely recovering from oversold.
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โก Futures Strategy โ Risky Bounce Play! ๐ข
๐ข LONG Setup:
Entry: $0.5650 โ $0.5900
Targets:
TP1: $0.6250
TP2: $0.6600
TP3: $0.6980
โ Stoploss: $0.5390
๐ด SHORT Setup (if bounce fails):
Entry Zone: $0.6150 โ $0.6300
Targets:
TP1: $0.5800
TP2: $0.5450
โ Stoploss: Above $0.6500
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๐ Performance Recap:
๐ Today: +1.25%
๐๏ธ 7 Days: -20.81%
๐ 30/90/180 Days: Not enough data
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๐ค Final Verdict โ Bottom In or Just a Blip? โ๏ธ๐
INITโs bounce from $0.5431 looks promising, but the trend is still bearish. Bulls need to reclaim $0.60+ and cross MA(25) with volume to confirm strength. Stay alert โ either a golden recovery or a bull trap awaits!