๐จ $INIT /USDT Alert: Critical Support Test at $0.743! ๐
๐ Current Market Snapshot
๐ด Price: $0.7430 (-7.61%)
๐ผ 24h High: $0.8349 | ๐ฝ 24h Low: $0.7413
๐ธ 24h Volume: 12.90M USDT
๐ Sector: Layer 1/Layer 2
๐ Technical Breakdown
๐ป MA(7): 0.7611 (Immediate Resistance)
๐ป MA(25): 0.9583 (Strong Overhead Resistance)
โ ๏ธ Critical Support: $0.7413 (24h Low)
๐ Volume Analysis: Current volume (2.33M INIT) significantly lower than 5-day avg (14.22M), suggesting weak momentum.
๐ฎ Next Move Prediction
๐ Bullish Scenario:
Hold above $0.7413 โ Potential bounce to $0.8959โ$1.0949
Needs strong volume confirmation
๐ป Bearish Scenario:
Break below $0.7413 โ Freefall to $0.5431 (Next Support)
๐ Technical Tools to Watch
MACD: For trend confirmation
Volume Profile: Validate breakouts
Order Book Depth: Monitor liquidity
๐ฏ Key Takeaway: This is make-or-break moment for INIT! Trade cautiously.
๐ก Trading Strategy
๐ธ Short-Term Traders:
Wait for confirmation at $0.7413 support
Consider shorts only if price breaks below with volume
๐ธ Long-Term Investors:
Watch for reversal patterns near support
Avoid catching falling knives
โ ๏ธ Risk Warning: Extreme volatility expected. DYOR!
