The 1-hour chart for INIT/USDT on Binance shows that the token is in a strong short-term uptrend, having surged from approximately $0.20 to over $0.80 in recent sessions. The price is currently trading around $0.7924, just above the 7-period and 25-period moving averages, which indicates #bullish momentum is still in play. However, a slight decline of 1.22% and decreasing trading volume suggest that momentum is cooling and the market may be entering a #ConsolidationPhase . Key resistance lies between $0.7945 and $0.83, while support is forming around $0.79 to $0.77. If buying pressure resumes and the price breaks above $0.83, a move toward the $0.87–$0.90 range is possible. Conversely, a break below $0.77 could signal a short-term retracement toward the $0.68 region. Overall, the outlook remains cautiously bullish, but with signs of near-term indecision and volatility typical of a newly listed cryptocurrency.
As with any investment in cryptocurrencies—especially newly listed and highly volatile assets like #INIT —trading should always be approached with caution. Prices can swing unpredictably, and technical analysis does not guarantee future performance. Always conduct your own research, manage your risk appropriately, and never invest more than you can afford to lose. Trading is done at your own risk.
