๐๐๐๐คฏ INIT Down 21.92% to $0.7056 โ Time to Buy๐ค? ๐จ
The price of INIT is $0.7056, down 21.92% with volatility at 40.48% in 24H! Support at $0.6754, resistance at $0.7383. RSI oversold, MACD bearish. ๐ก Scalp $0.6754โ$0.8000, stop loss at $0.6500. Bounce or further decline? What do you think? ๐ #INIT
๐Insights for Traders
๐งญShort Term (Scalping/Day Trading): Entry Point: Buy when the price drops to $0.6754โ$0.6500 if the price holds above $0.6754 (confirm with volume and RSI rising above 30).
๐งญProfit Target: Sell at resistance $0.7383โ$0.8000. Stop Loss: $0.6500 to limit risk. Strategy: Use small time frames (15M/1H) for scalping, taking advantage of potential bounces from oversold conditions.
๐งญMedium Term (Swing Trading): Wait for breakout confirmation above $0.7383 (SAR) with high volume for long positions, targeting $0.8000โ$0.9488. If the price breaks below $0.6754, watch for deeper correction to $0.6500 or $0.6000. Monitor project-specific news for additional catalysts.
๐จBe cautious of further declines, especially with a bearish trend and high volatility.
