$INIT /USDT Gearing Up for the Next Leg—Is a Breakout Brewing?
INIT/USDT is showing signs of strength after a strong recovery from its 24H low of $0.5431, now trading at $0.5974. Despite a modest -0.50% dip, the token has reclaimed key moving averages (MA-25 and MA-99) and is testing short-term resistance near $0.6050. The 24H high at $0.6184 remains a key level to break, while support sits at $0.5890 and $0.5725. Bullish traders will look for a close above $0.6050 to target $0.6180 and $0.6220, while bearish setups may activate on a failure to hold above $0.5890, aiming for a pullback to $0.5720. Volume has cooled after a prior spike, suggesting a potential coil before the next move. With moving averages converging and momentum shifting, INIT is at a decision point. Are you positioning for the breakout or fade? Share your insights and entries below!