$INIT USDT on Binance (15 min timeframe), here’s a quick short analysis:
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Support Levels
0.8394: Strong support, previously respected multiple times.
0.8003: Secondary support zone if 0.8394 breaks.
0.7700: Major support — the bottom wick low from 2025-04-26.
Resistance Levels
0.9177: Short-term resistance.
0.9480 - 0.9569: Strong resistance zone (double top formation visible).
0.8789: (7 MA line) acting as minor dynamic resistance right now.
Key Levels
Immediate range: 0.8394 (support) to 0.9177 (resistance).
Middle point: Around 0.8780 - 0.8800 is critical for deciding next move (currently price is right near it).
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Entry Points
Long Entry: Near 0.8394 with confirmation (bullish engulfing, strong bounce).
Short Entry: If price rejects 0.8780–0.8800 area again or fails to hold above 0.8700.
Breakout Long Entry: If 0.9177 is broken with volume.
Breakdown Short Entry: If 0.8394 breaks with heavy selling.
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Extra Notes
MA(7) crossing down MA(25) indicates slight bearish pressure in the short term.
Volume is decreasing → potential bigger move incoming soon.
Watch for a breakout or breakdown in next sessions.