$INIT MASSIVE BOUNCE: IS $1.35 NEXT?
$INIT just surged to $1.2801, marking a powerful +15.94% rally on the day. After reclaiming the key $1.2680 support zone, the price is showing strong upside continuation. However, it’s now approaching a short-term resistance level that could either trigger a breakout or stall the momentum.
Key Levels to Watch
• Resistance Zone: $1.2950 – $1.3150
A breakout above this area could ignite a fresh run toward:
• TP1: $1.3500
• TP2: $1.3800
• Support Zone: $1.2550 – $1.2680
A breakdown below this could weaken momentum toward:
• TP1: $1.2100
• TP2: $1.1750
Trade Setup – Bulls Are in Control (For Now)
• Bullish Entry: Confirmed move above $1.2950
• Bearish Entry: Drop below $1.2550
• Stop-Loss: Below $1.2450 for longs / Above $1.3150 for shorts
Volume is healthy at 237.4K, but order book favors sellers (57.75% ask vs. 42.25% bid). INIT’s next candle will be key—watch closely for confirmation.