Here’s a concise technical analysis post tailored for Binance users, with three short-term target highlights:
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/USDT Technical Analysis – April 30, 2025
Current Price: $0.8718 (+28.41%)
24h Range: $0.6200 - $0.8990
Volume: 108.73M INIT / 85.66M USDT
Market Sentiment: Strong bullish momentum following a breakout above the MA60 ($0.8667), supported by high volume and a surge in investor interest.
Key Technical Highlights:
Price is consolidating above support at $0.8525 after testing resistance near $0.8990.
MA(5) and MA(10) show strong upward pressure with increased buyer activity (MA(5): 37.9K, MA(10): 47.6K).
High volatility zone offers lucrative short-term trading setups.
Short-Term Targets:
1. Target 1: $0.8990 – Retest of recent local high (near-term resistance).
2. Target 2: $0.9350 – Psychological breakout level if bullish momentum sustains.
3. Target 3: $1.00 – Key round number resistance; strong potential if volume continues to rise.
Support Levels:
$0.8667 (MA60)
$0.8415 (minor consolidation base)
$0.8200 (historical support)
Conclusion:
INIT/USDT shows a bullish continuation pattern with breakout potential above $0.8990. Traders should monitor volume spikes and depth orders for confirmation. Leverage positions should be managed with caution due to high volatility.
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