Trade setup🎯$INIT (Long)
Entry Zone: $0.0965 – $0.0985
Targets:
T1: $0.1060
T2: $0.1120
Stop Loss: $0.0915
Analysis
The price of INIT has shown a strong bullish impulse, climbing significantly from the $0.081 level. Currently trading at $0.1012, the asset is testing a local psychological barrier after hitting a 24-hour high of $0.1026.
The chart shows a classic bullish trend supported by the moving averages. The MA(7) (yellow line) is steeply inclined, acting as immediate dynamic support. However, the last few candles show long upper "wicks," indicating that sellers are active near the $0.103 resistance zone. While the volume surge is impressive, the price is currently extended from the MA(25) and MA(99), suggesting a brief cooling-off period or a "retest" of the breakout level might be necessary before the next leg up.
Market Outlook
The current momentum is undeniably strong, with a +13.71% gain in the last 24 hours. If INIT can consolidate above the $0.100 psychological level, it clears the path for a move toward the $0.110 range. The massive volume spikes at the bottom of the chart confirm that buyers are in control.
However, traders should be cautious of a "fake-out" at these highs. The ideal scenario for a sustained rally would be a minor retracement to the $0.097 support area to trap late shorters before pushing for a fresh daily high. If the price fails to hold $0.093, the bullish structure may weaken, leading to a deeper correction.#USNonFarmPayrollReport #MarketRebound #INIT $INIT
