🚨 INITIA (INIT) Technical Snapshot – Breakout or Fakeout?
$INIT has surged over 11% in the past 24 hours, now hovering near $0.398 after rebounding strongly from the $0.35 support zone. This marks a potential double-bottom structure with increasing volume—early signs of trend reversal.
📊 Key Levels
Support: $0.35 (double-tested base)
Resistance: $0.41–$0.42 (MA200 & breakout zone)
Target: $0.45–$0.50 if momentum holds
🧠 Strategy Outlook
Spot Traders: Watch for retest near $0.38–$0.39 (EMA zone) to enter
Short-Term Bulls: A close above $0.42 could trigger a breakout play
Risk Management: Stop-loss below $0.35 to protect capital
With strong on-chain fundamentals and bullish indicators (RSI ~63, ADX >50), $INIT could be gearing up for its next leg—but confirmation is key.
DYOR No Financial advice!