$INIT : Bullish and Bearish Scinerio
Bullish Scenario:
- Support holds at ~$0.65–$0.68: If $INIT finds solid support here (just above its previous resistance), we could see a bounce back toward $0.80–$0.90.
- Volume recovery: A rise in buying volume would confirm renewed interest, possibly pushing it to retest the $0.9857 high.
- Consolidation above $0.70: A sideways range with higher lows can build a strong base for a second leg up.
Bearish Scenario:
- Drop below $0.65: This would show weakness and likely trigger a test of lower support zones like $0.50 or even $0.40.
- Declining volume and momentum: A drop in trading activity would show fading interest, possibly leading to a longer consolidation or correction.
Key Levels to Watch:
- Support:$0.65, $0.50, $0.40
- Resistance:$0.75, $0.90, $0.98
Right now, it’s in a cooling-off phase after a strong run. The next move depends heavily on volume and sentiment. A few days of tight price action will give clearer direction.