The current price of $INIT stands at 0.0877, significantly above the recent swing low of 0.0847 and near the local high. Indicators such as MACD, Vortex, PSAR, DMI, and ADX suggest bullish momentum, while Stochastic and Fisher indicate potential short-term weakness. Recent volume increases during the upward movement signal buyer interest. The primary trend shows a strong rise followed by a slight pullback, typical of liquidity absorption and partial profit-taking. The price is positioned just above a fair value gap (FVG) at 0.0875 and below resistance at 0.0880. The short-term trend leans bullish, but caution is advised due to the extended move. Critical levels include resistance at 0.0880, 0.0887, 0.0892, and 0.0899, with support at 0.0875 (FVG), 0.0867 (FVG), 0.0861, 0.0855, 0.0851, and 0.0849. Traders are advised to watch for pullbacks to the 0.0875 or 0.0867 zones for potential long entries, with partial take profits at 0.0880 and 0.0887, and extended targets at 0.0892. Stops should be placed below significant recent lows, around 0.0861.
$INIT Price Analysis: Short-Term Bullish Momentum with Caution
This content is for informational purposes only and does not constitute investment advice.
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