INIT looks like it is cooling off after a big pump. Price ran from about 0.117 to a high of 0.303 and has since dropped back to 0.200. The last two red candles show sellers taking control, and volume is fading, which tells me the buyers are getting tired.
RSI sits near 50, so the heat is gone and there is room to move either way. MACD is still above zero, but the bars are shrinking, which means momentum is slowing down.
Best levels to watch:
Support 1 is 0.190, where price may bounce.
Support 2 is 0.159, the 24h low and a strong floor.
Support 3 is 0.148, the next solid zone below.
Resistance 1 is 0.230, the first hurdle on any bounce.
Resistance 2 is 0.271, a heavy selling area.
Resistance 3 is 0.303, the top of the pump.
If price holds 0.190, a bounce to 0.230 is possible. If it breaks below 0.190 on a 4h close, expect a drop toward 0.159. I would wait for a clear candle before entering. This is not financial advice, so use a small size and a stop loss.
$INIT
RSI sits near 50, so the heat is gone and there is room to move either way. MACD is still above zero, but the bars are shrinking, which means momentum is slowing down.
Best levels to watch:
Support 1 is 0.190, where price may bounce.
Support 2 is 0.159, the 24h low and a strong floor.
Support 3 is 0.148, the next solid zone below.
Resistance 1 is 0.230, the first hurdle on any bounce.
Resistance 2 is 0.271, a heavy selling area.
Resistance 3 is 0.303, the top of the pump.
If price holds 0.190, a bounce to 0.230 is possible. If it breaks below 0.190 on a 4h close, expect a drop toward 0.159. I would wait for a clear candle before entering. This is not financial advice, so use a small size and a stop loss.
$INIT
