$INIT /USDT – Bearish Retracement in Progress!
Momentum analysis shows INIT/USDT facing downward pressure, with a recent price drop of 4.73% to $0.5856. A potential short setup could develop if the price continues to reject levels above $0.62. Current support holds at $0.5566, with significant depth found around $0.5856 and $0.5566. Watch for a bounce off these levels for potential long opportunities, or a breakout confirmation below $0.56 for a bearish continuation. Pro Tip: Trade with caution as volatility can spike near key support levels.
Key Data:
Price: $0.5856
Change: -4.73%
24h High: $0.6218
24h Low: $0.5566
24h Volume (INIT): 33.32M
24h Volume (USDT): 19.95M
Order Depth: 0.7445, 0.7355, 0.7051, 0.6657, 0.6264, 0.5856
Timestamp: 2025-05-07 16:00