$INIT STRONG COMEBACK OR FAKEOUT? WATCH THIS BREAKOUT LEVEL
$INIT/USDT is trading at $1.1557, recovering impressively from earlier lows but still showing a daily loss of -4.91%. After a steep decline, bulls are pushing back with force—now knocking on key resistance levels. The next breakout will reveal whether this is a true reversal or just another trap.
Key Levels to Watch
• Immediate Resistance Zones:
• $1.1620 – Nearest resistance; bulls must flip this to confirm breakout.
• $1.1800 – Strong resistance zone; break above confirms bullish continuation.
• Support Zones:
• $1.1360 – First support if price rejects.
• $1.1080 – Critical downside zone; a fall below here turns momentum bearish again.
Trade Setup – Next Move Incoming
Bullish Scenario (Breakout Play):
• Entry: Above $1.1620
• TP1: $1.1800
• TP2: $1.2100
• Stop-Loss: Below $1.1360
Bearish Scenario (Rejection Fade):
• Entry: Below $1.1360
• TP1: $1.1080
• TP2: $1.0700
• Stop-Loss: Above $1.1620
$INIT is showing early signs of recovery, but confirmation only comes with a strong breakout above $1.1620. Stay alert—next candles could set the tone for a major move.