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$INIT /USDT: Is the Rally Losing Momentum?
$INIT has experienced a strong rally, gaining 63.76% in the 24-hour snapshot shown in the chart.
But after reaching 0.23727 USDT, the price has pulled back to 0.20758.
Here's what the 1H chart tells us:
🟢 Bullish signs:
- Price remains above MA25 (0.18001) and MA99 (0.13983).
- The broader chart structure remains upward.
🔴 Things to watch:
- Price is currently below MA7 (0.21655).
- Trading volume is below its MA5 and MA10 averages.
- The recent pullback suggests short-term momentum has cooled.
Important levels:
- Resistance: 0.216–0.218 and 0.23727
- Support: 0.200–0.192, followed by 0.180
A move above resistance with stronger volume could support another bullish attempt. Losing nearby support could bring further downside.
What do you think? Can INIT challenge 0.237 again, or will sellers take control?
#INIT #CryptoAnalysis #Altcoin