$INIT AT CRUCIAL INFLECTION POINT – RELIEF BOUNCE OR FURTHER DROP?
$INIT/USDT is currently trading at $0.9896, down -14.36% over the past 24 hours. After a sharp decline from above $1.20, price has found temporary footing near the $0.976 support zone. The structure shows signs of a minor base forming, but momentum remains fragile. A decisive move is expected soon.
Key Technical Levels to Monitor
• Immediate Resistance: $1.0200 – A breakout above this level may initiate a short-term recovery toward $1.0500 and $1.0900
• Critical Support: $0.9760 – A breakdown below this could extend losses toward $0.9500 and $0.9180
Trade Setup – Volatility Alert
Bullish Setup:
• Entry Trigger: Break and close above $1.0200 on 15-min candle with rising volume
• Target 1: $1.0500
• Target 2: $1.0900
• Stop-Loss: Below $0.9760
Bearish Setup:
• Entry Trigger: Breakdown below $0.9760 with bearish momentum
• Target 1: $0.9500
• Target 2: $0.9180
• Stop-Loss: Above $1.0000
Given the deep correction and ongoing sell-side pressure, avoid impulsive entries.Protect capital with tight stops and respect the current trend bias.