$INIT SIGNAL ALERT 🟢✨️✨️✨️🚀🚀🚀

$INIT at $0.8996 has broken out bullishly from a pennant chart pattern, signaling a continuation of the prior uptrend. The pennant formed after a sharp rally from $0.7125 to $0.9455, followed by a consolidation phase with converging trendlines, indicating a brief pause in momentum. The breakout occurred as the price closed above the upper trendline of the pennant at $0.89973, with increased volume (5,507,914 $INIT ), confirming the move.

A bullish pennant breakout typically suggests the resumption of the upward trend, projecting a target equal to the length of the prior move (the "flagpole"). From $0.7125 to $0.9455, the move was $0.233; adding this to the breakout point of $0.89973 gives a target of approximately $1.13273. The MA(25) at $0.8708 remains below the price, supporting the bullish momentum, and the RSI(6) at 65.1932 indicates room for further upside before overbought conditions.

Watch for a sustained move above $0.89973 with strong volume to confirm the breakout. A pullback to retest the breakout level around $0.89973, followed by a bounce, would further validate the pattern. However, a drop below $0.8546 (the pennant’s lower trendline) could signal a failed breakout, potentially leading to a decline toward $0.8008.

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