$INIT
Whoever has won since the launch has won. Because if it depends on the technical analysis of this chart, the INIT/USDT token indicates a predominantly bearish trend for today.
See the main factors that justify this perspective:
The price has dropped significantly from 0.9870 USDT to 0.7890 USDT, a significant retracement in a short time.
Currently, the price is below the main support levels.
The price is below all moving averages: EMA(7) 0.8186 USDT, EMA(25) 0.8460 USDT, and EMA(99): 0.8185 USDT, which generally indicates a continuation of the decline or a possible consolidation period.
The Relative Strength Index RSI(6) is at 17.37, well below 30, indicating that the asset is oversold. This could be a signal for a reversal or short-term correction.
The overall trend for today remains negative, but there is a possibility of a brief correction due to oversold conditions. If the volume increases significantly, a small price bounce may occur before resuming the predominant trend.
It is important to stay alert to recovery signals and trading volume to identify opportunities!
