Don't sleep on $INIT

Technical Snapshot**

- **Bollinger Bands**: The price sits below the middle band (**1.0490**), suggesting consolidation after a rally. Resistance at the upper band (**1.2402**) and support near the lower band (**0.8578**) define key levels.

- **RSI**: The RSI6 (**59.60**) nears overbought territory, while RSI12 (**49.22**) and RSI16 (**48.55**) remain neutral, hinting at short-term overheating.

- **MACD**: A bearish crossover persists (MACD: **-0.0028**), but narrowing gaps between DIF (**-0.0439**) and DEA (**-0.0411**) suggest weakening downward momentum.

### **Volume and Events**

Current volume (**2.69M**) lags behind 5-day and 10-day averages (**22.78M** and **26.57M**), indicating fading follow-through. Traders should watch three critical dates—**May 13, 15, and 18, 2025**—which may correlate with token unlocks, protocol updates, or macroeconomic triggers.

### **Outlook**

While the rally showcases bullish sentiment, overbought RSI6 and low volume raise sustainability concerns. A break above $1.04 could target $1.24, but failure may see a retest of $0.89. Traders should monitor the MACD for trend reversals and prepare f

or volatility around upcoming events.

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