$INIT BREAKOUT LOADING OR BULL TRAP?
$INIT/USDT is trading at $0.8011, up +16.00% on the day after rebounding from the $0.68 lows. Price is now struggling just below key resistance, indicating a potential breakout—or a possible fakeout.
Key Price Levels to Watch:
Resistance Zone:
• $0.8180 – $0.8280
Multiple rejections at this area. A confirmed breakout above this zone could unleash the next leg higher.
Support Zone:
• $0.7900 – $0.7780
This is the base of the current structure. A break below this range might invite aggressive sellers.
Trade Setup – Keep Your Trigger Finger Ready:
Bullish Scenario:
• Entry: Breakout above $0.8280
• TP1: $0.8580
• TP2: $0.8840 (24h high)
• Stop-Loss: Below $0.7900
Bearish Scenario:
• Entry: Breakdown below $0.7780
• TP1: $0.7450
• TP2: $0.7100
• Stop-Loss: Above $0.8180
INIT is knocking on resistance. Wait for confirmation before jumping in—next move could be explosive, but fakeouts are common in this zone.
