$INIT STABILIZING AFTER DUMP – IS A RELIEF BOUNCE COMING?
$INIT/USDT is trading at $1.1315, attempting to recover after a sharp drop from the $1.24+ region. Price is now consolidating just below local resistance.
Key Levels:
• Resistance: $1.1400 – $1.1600
• Support: $1.1180 – $1.0920
Trade Setup:
• Bullish Scenario:
• Entry: Above $1.1400
• TP1: $1.1600
• TP2: $1.1900
• Final Target: $1.2250
• SL: Below $1.1180
• Bearish Scenario:
• Entry: Below $1.1180
• TP1: $1.0920
• TP2: $1.0680
• SL: Above $1.1400
$INIT is at a decision zone. A break above $1.1400 could trigger a short-term recovery, but failure to hold $1.1180 risks another leg down.