- Will the bulls calm down or prepare for the next push? Watch this area!

The price of $INIT

rose sharply from $0.3989 to a recent high of $0.4270, followed by a slight pullback towards the support level of $0.4160. The price is currently stabilizing, and if this level holds, the bulls may resume their activity to attempt another breakout above the recent high. The structure remains bullish as long as the price stays above $0.4100.

Buy trade setup:

• Entry price: $0.4160 - $0.4190

• Target 1: $0.4260

• Target 2: $0.4325

• Stop loss: $0.4095

Momentum is still strong with higher lows and solid trading volume on the rise. Watch the breakout level of $0.4270 - confirmation above this level opens the door for further upside.