#InitiaCoin Showing Strong Rebound – Brace for Potential Volatility Spike!

$INIT has demonstrated significant price action recently. After peaking at $1.3796, it experienced a pullback, finding solid support at $1.1666. Currently, $INIT is trading at $1.2583, showcasing a robust +14.85% gain over the last hour.

While the order flow in the immediate short term appears mixed (44% buy), the strong rebound off the support level suggests renewed bullish momentum is building. This could indicate a potential resurgence of buying interest and a possible continuation of the upward trend.

My Bullish Trading Opportunity:

Based on this analysis, I've identified a potential long trade setup:

* Entry Zone: $1.2550 - $1.2650

* Target Price 1 (TP1): $1.3200

* Target Price 2 (TP2): $1.3796 (the 24-hour high)

* Stop-Loss: Placed below $1.1880

Key Considerations:

The sustainability of this bullish move hinges on $INIT holding above the $1.2200 level. If this support holds, we could see bulls making another attempt to rally towards the recent high of $1.3796.

It's crucial to closely monitor the trading volume for confirmation of this breakout. Increased volume accompanying upward price movement would strengthen the bullish case. Be prepared for a potential volatility spike as $INIT attempts to break through previous resistance levels.

This analysis reflects my current assessment of the $INIT market dynamics, and I will be closely tracking its performance for potential trade execution.