$INIT Sharp Downtrend - Seeking Support or Reversal?
INIT is currently trading at $0.9565, having experienced a significant decline from recent highs. It is now at a critical juncture, facing strong bearish momentum. The next move will determine if it finds a bottom or continues its descent.
Key Levels to Watch:
Resistance: $0.9600 - A move above this immediate resistance could target $0.9750 and $0.9800.
Support: $0.9525 - Losing this level could send INIT toward its 24-hour low of $0.9229.
Trade Setup - Get Ready for Volatility!
Bullish Entry: A confirmed move above $0.9600 could target:
Target 1: $0.9750
Target 2: $0.9800
Bearish Entry: A break below $0.9525 could target:
Target 1: $0.9450 (approx.)
Target 2: $0.9229 (24h low)
Stop-Loss: Use tight stops to manage risk, especially given the current bearish momentum.