📉👀👀🤯 INIT Falls 21.92% to $0.7056 – Time to Buy🤔? 🚨
INIT price at $0.7056, down 21.92% with 40.48% volatility in 24H! Support $0.6754, resistance $0.7383. RSI oversold, MACD bearish. 💡 Scalp $0.6754–$0.8000, stop loss $0.6500. Bounce or more downside? What’s your take? 📊 #INIT
📌Insights for Traders
🧭Short-Term (Scalping/Day Trading):Entry Point: Buy on a dip to $0.6754–$0.6500 if the price holds above $0.6754 (confirm with volume and RSI rising above 30).
🧭Target Profit: Sell at resistance $0.7383–$0.8000.Stop Loss: $0.6500 to limit risk.Strategy: Use small timeframes (15M/1H) for scalping, capitalizing on a potential bounce from oversold conditions.
🧭Medium-Term (Swing Trading):Wait for a confirmed breakout above $0.7383 (SAR) with high volume for a long position, targeting $0.8000–$0.9488.If the price breaks below $0.6754, watch for a deeper correction to $0.6500 or $0.6000.Monitor project-specific news for additional catalysts.
🚨Be cautious of further downside, especially with the bearish trend and high volatility.
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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.