$INIT/USDT

Quick analysis of this new currency

Current price: 0.8453 USDT.

Highest price in 24 hours: 0.9447 USDT.

Lowest price in 24 hours: 0.2000 USDT.

Percentage increase: +322.65%.

Important indicators:

EMA 7 (Yellow): 0.8493 (the price is close to it now, indicating a test of moving support).

EMA 25 (Pink): 0.7875 (deeper and more stable support).

MACD indicator: Slight negative crossover (MACD -0.0016), indicating a slowdown in bullish momentum currently.

Stochastic indicator (K: 52.78 / D: 63.59): Indicates the price is in a neutral zone, with room for either upward or downward movement.

Important notes:

There is a downward correction after the price reached the peak of 0.9447, and the price is currently trying to hold above EMA 7.

Current price behavior tends to sideways consolidation after the correction, which may precede a strong movement later.

If EMA 7 is strongly broken down, we may see the price test EMA 25 at 0.7875.

Current recommendation:

If the price holds above 0.8493 (EMA 7) and shows bullish reversal candles, scalping entry is possible targeting 0.88 - 0.90.

In case of a strong break below 0.84, it is preferable to wait at 0.79 - 0.78 as a new buying area.