🚀 INIT Surges 52.04% to $0.9297 – More Gains Ahead🤔?🚀
INIT price at $0.9297, up 52.04% with 66.46% volatility in 24H! Support $0.8790, resistance $0.9857. RSI overbought, MACD short-term bearish. 💡 Scalp $0.9226–$1.0250, stop loss $0.8790. More gains or correction? What’s your take? 📊@BoldCompass
📌Insights for Traders
🧭Short-Term (Scalping/Day Trading):Entry Point: Buy on a dip to $0.9226–$0.9000 if the price holds above $0.8790 (confirm with volume and RSI dropping to 50–60).
🧭Target Profit: Sell at resistance $0.9857–$1.0250.Stop Loss: $0.8790 to limit risk.
Strategy: Use small timeframes (15M/1H) for scalping, capitalizing on a potential rebound after the correction.
🧭Medium-Term (Swing Trading):Wait for a confirmed breakout above $0.9857 with high volume for a long position, targeting $1.0250–$1.2000.If the price breaks below $0.8790, watch for a deeper correction to $0.7758 (MA(99)) or $0.7076.Monitor project-specific news, such as updates or partnerships driving this surge, for additional catalysts.
Be cautious of further corrections, especially with overbought RSI and short-term bearish MACD signals.
Will INIT break $1.0250, or are we due for a correction to $0.7758? Share your thoughts below! 👇
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Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves high risks, and prices can be highly volatile. Always conduct your own research and consider your risk tolerance before making any trading decisions.