ofl $INIT /USDT as
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Price Overview
Current Price: $0.9505
Change (24h): -8.45% (strong bearish move)
24h High: $1.0618
24h Low: $0.9502 (currently sitting at the low)
Vol (24h):
INIT: 19.77M
USDT: 19.92M (relatively balanced—strong activity)
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Technical Indicators
MA60: $0.9699
Current price is below all key moving averages, indicating bearish pressure
MA(5): 50,839.7
MA(10): 29,946.9
Declining short-term MAs with falling price = downtrend confirmation
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Volume & Momentum
Latest volume: 22,055
Momentum: Heavy selloff; likely under MACD bearish crossover
Bollinger Bands: Likely expanding, as price hugs the lower band
Indicates strong volatility and breakdown trend
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Key Support & Resistance
Support Zones:
Immediate: $0.9502–$0.9480
Next Level: If breakdown continues, watch for support near $0.92
Resistance:
First: $0.9568
Major: $0.9699 (MA60) and $0.98–$1.00 zone (psychological)
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Performance Outlook
Price is at daily low — showing no immediate signs of reversal
Bearish engulfing structure likely forming on higher timeframes
Volume confirms selling pressure with no meaningful bounce attempts
Avoid long positions until reversal confirmation above $0.97
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Conclusion
Bias: Bearish
Short-term Trend: Downtrend with potential continuation if $0.95 fails
Watch for:
MACD/RSI divergence
Bullish pin bar or engulfing candle above $0.96–$0.97
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