Updated analysis on Initia (INIT) – Negative price volatility in the short term
🧾 Current market information
Current price: $0.6919
24h volatility: Decreased by 6.2%
24h trading volume: $231.9 million
24h high price: $0.8291
24h low price: $0.6752
Market capitalization: $102.84 million
Circulating supply: 148.75 million INIT
📉 Technical analysis
Overall signal: Strong sell
RSI indicator: Decreasing, indicating increased selling pressure
MACD: The MACD line crosses below the signal line, confirming a downtrend
Near resistance: $0.74
Near support: $0.66
🎯 Suggested trading strategy
Spot trading
Potential buying zone: $0.66 – $0.68
Stop loss (SL): $0.64
Take profit (TP): $0.74 – $0.78
Futures trading (low leverage)
Short position: If the price breaks the support at $0.66
Stop loss (SL): $0.70
Take profit (TP): $0.60 – $0.62
📰 Related news in the past 24 hours
Price volatility: INIT has dropped over 6% in the past 24 hours, indicating strong selling pressure from the market.
Trading volume: Trading volume surged, reflecting high interest from investors, but it could also be a sign of strong volatility.
Market sentiment: The Fear & Greed index shows a neutral sentiment, but the current downtrend may affect investor confidence.
⚠️ Conclusion
INIT is undergoing a price correction after a strong previous rally. With the current technical signals, investors should be cautious and carefully consider their trading decisions. Closely monitoring key support and resistance levels will help determine the right entry point.
2. Cosmos (ATOM)
Current price: $4.47
Resistance:
$4.50
$4.52
$4.55
Support:
$4.40
$4.38
$4.35
Technical signals:
ATOM is trading near the resistance level of $4.50, with a slight upward trend in the past 24 hours.
RSI indicator at 31.83, indicating that the market is in the oversold zone, which may lead to a price recovery.
Trading strategy:
Spot:
Buy when the price exceeds $4.50.
Stop loss (SL): $4.35.
Take profit (TP): $4.60 and $4.70.
Futures
Buy when the price exceeds $4.50 with low leverage.
Stop loss (SL): $4.35.
Take profit (TP): $4.60 and $4.70.
3. Kava (KAVA)
Current price: $0.4348
Resistance:
$0.5181
$0.6007
$0.6719
Support:
$0.4460
Technical signals:
KAVA is trading near the support level of $0.4460, with a slight upward trend in the past 24 hours.
RSI indicator back above 50, indicating a bullish signal.
Trading strategy:
Spot:
Buy when the price exceeds $0.5181.
Stop loss (SL): $0.4460.
Take profit (TP): $0.6007 and $0.6719.
Futures:
Buy when the price exceeds $0.5181 with low leverage.
Stop loss (SL): $0.4460.
Take profit (TP): $0.6007 and $0.6719.
Note: The information above is for reference only and is not investment advice. Investors should conduct their own research and consider risks before engaging in transactions.