Analysis: 
INIT has been rejected twice at $0.9, forming a double-top pattern on the 1H chart. The RSI is showing divergence, dropping to 55 while price remains flat, signaling weakening momentum. A bearish MACD crossover is forming. Short below $0.84, targeting $0.80, with a stop-loss above $0.86.
Key Levels: Resistance: $0.85, $0.87 | Support: $0.80, $0.77
Indicators: RSI (55, Divergence), MACD (Bearish Crossover)
INIT has been rejected twice at $0.9, forming a double-top pattern on the 1H chart. The RSI is showing divergence, dropping to 55 while price remains flat, signaling weakening momentum. A bearish MACD crossover is forming. Short below $0.84, targeting $0.80, with a stop-loss above $0.86.Key Levels: Resistance: $0.85, $0.87 | Support: $0.80, $0.77
Indicators: RSI (55, Divergence), MACD (Bearish Crossover)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.