INITUSDT 4H Chart Analysis:
The price of INITUSDT is currently trading at $0.6769, showing a -0.92% decline in the last 24 hours.
Key Observations:
- EMA Cross: The 7-period EMA ($0.6741) has crossed below the 25-period EMA ($0.7335), indicating a bearish trend continuation.
- Price Action: After peaking at $0.9870, INIT faced heavy selling pressure and is now attempting to stabilize near the $0.65–$0.68 support zone.
- RSI (6) is at 42.52, signaling a neutral-to-slightly oversold condition. A further drop could create a short-term buying opportunity.
- MACD remains in the bearish territory with the MACD line (-0.0123) below the signal line (DEA: -0.0259), showing sustained downside momentum.
Conclusion:
INIT is currently consolidating after a strong drop. A decisive move above the EMAs could shift momentum bullish, while failure to hold current support may lead to a retest of the $0.61–$0.62 range.
Strategy: Watch for a breakout above the EMA(7) or bullish divergence in RSI/MACD for potential long entries. Until then, caution is advised.
