$INIT /USDT – Bearish Pullback Alert Below Key Support!
Current Price: $0.6021
24h Change: -12.26%
24h High / Low: $0.6948 / $0.5566
24h Volume: 43.71M INIT / 27.01M USDT
Category: Layer 1 | Status: New Listing
Exchange: Binance
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Bearish Setup
Short Entry: $0.6200 - $0.6050
Take Profit Targets:
TP1: $0.5700
TP2: $0.5480
TP3: $0.5200
Stop Loss: $0.6550
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Market Insight
$INIT is showing early signs of weakness after a sharp listing rally. With price dipping below the key SAR level ($0.5698) and a negative MACD crossover (DIF: -0.0170, DEA: -0.0208, MACD: +0.0038), momentum is leaning bearish.
Price is consolidating under $0.61 after rejecting from $0.6948. A clean break below $0.6000 could trigger further downside toward the support zone at $0.5500.
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Action Plan
Watch for rejection near $0.6200 - $0.6050 with increased sell volume to confirm entry. Secure partial profits at TP1 and trail stop for the rest.
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Pro Tip
Use a tight stop-loss and size down due to post-listing volatility. Bearish momentum may intensify if $0.5566 support fails — act fast and stay disciplined.
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