$INIT USDT (15-minute timeframe), here’s a quick technical analysis with support/resistance levels and entry point suggestions:
Key Levels:
Resistance Levels:
1. 0.9447 – Recent 24h high, strong short-term resistance.
2. 0.8863 - 0.8880 – Local top before last rejection, likely minor resistance.
3. 0.9000 (psychological level) – Close round numbers often act as resistance.
Support Levels:
1. 0.8730 - 0.8735 – Current zone, with strong buy orders visible on the order book.
2. 0.8710 - 0.8716 – Aligned with MA(25), could act as dynamic support.
3. 0.8107 – Prior pullback low after a small consolidation.
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Potential Entry Points:
Aggressive Entry: Around 0.8730 - 0.8710 – small risk if support holds.
Safer Entry (Buy the Dip): Near 0.8100 - 0.8200 support zone if price pulls back.
Breakout Entry: Above 0.9450 with volume confirmation for a potential run to 1.00 or higher.
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Trade Idea Example:
Entry: 0.8720
Target 1: 0.8880
Target 2: 0.9447+
Stop Loss: 0.8590 or below MA(25)