⚡ $INIT /USDT BEARISH PRESSURE – KEY LEVELS TO WATCH ⚡

$INIT is trading at 0.3608 after rejecting the recent high of 0.3829, showing weakness near moving averages. 📉

📊 Technical Overview:

MA(7): 0.3627 (just above price → acting as short-term resistance)

MA(25): 0.3643 and MA(99): 0.3717 both above current price → bearish bias remains.

Price is struggling to hold 0.3600 support; a breakdown could trigger further downside.

MACD is flattening, suggesting a potential bearish crossover if sellers gain momentum.

🔑 Key Levels:

Support: 0.3590 – 0.3550 (critical zone; breakdown may send INIT → 0.3450).

Resistance: 0.3650 – 0.3720 (MAs cluster here; breakout above 0.3720 could flip sentiment bullish).

🎯 Trade Setup:

Short Entry: Near 0.3650 – 0.3700 (if rejection confirmed).

TP1: 0.3550

TP2: 0.3450

SL: 0.3735 (above MA99 resistance).

Long Setup (only if breakout): Entry above 0.3730 with volume confirmation.

TP1: 0.3820

TP2: 0.3950

SL: 0.3650

⚠️ Risk Management: Never risk more than 2–3% of capital per trade. Trend still leans bearish until INIT reclaims 0.3720+.

#CryptoRally #AKEBinanceTGE #MarketPullback #BinanceHODLerPLUME #Write2Earn $INIT