$INIT /USDT
๐ช INIT/USDT Market Overview
Current Price: $0.5007
24h Change: -7.74%
24h High: $0.5768
24h Low: $0.4929
24h Volume:
INIT: 24.08M
USDT: $12.83M
๐ Key Technical Levels
TypePriceNotesResistance 1$0.5132Minor ceiling in last bounceResistance 2$0.5246Mid-depth resistanceResistance 3$0.5476Breakout thresholdCurrent$0.5007Testing key psychological levelSupport 1$0.4929Daily low & short-term floorSupport 2โNext visible support near $0.475 (approx.)
๐งญ Technical Summary
๐ป Trend: Bearish
Strong intraday sell pressure.
Price is hovering just above the daily low โ weak recovery attempts.
Lower highs forming โ trend remains downward-biased unless a breakout occurs.
๐ Volume Insight
$12.83M in USDT โ Moderate liquidity
Sell-dominant flows suggest cautious sentiment
No strong accumulation detected at current levels
๐ง Trade Scenarios
๐ผ Bullish Rebound Setup
Trigger: Break and close above $0.5132
Target Range: $0.5246 โ $0.5476
Invalidation: Fall below $0.4929 with increased volume
๐ฝ Bearish Continuation
Breakdown Level: $0.4929
Next Support Range: $0.475 โ $0.465 (approximate historical interest)
Momentum Builds: If broader altcoin market remains weak
๐ Summary
Bias: Bearish to neutral (near critical support)
Crucial Support: $0.4929
Recovery Point: $0.5132+
Watch for: BTC/ETH price correlation and wider alt sentiment
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