Analysis: 
INIT’s recent mainnet launch has sparked renewed interest, pushing the price to $0.85 with a 12% gain in 24 hours. The daily chart shows a breakout above the 50-day EMA ($0.82), with the Stochastic RSI nearing overbought but signaling strong buying pressure. The Ichimoku Cloud is turning bullish, with the price above the cloud. Expect a move toward $1.00 if momentum holds, but watch for profit-taking near $0.90. Place a stop-loss at $0.78 for safety.
Key Levels: Resistance: $0.90, $1.00 | Support: $0.82, $0.78
Indicators: 50-day EMA ($0.82), Stochastic RSI (80), Ichimoku Cloud (Bullish)
INIT’s recent mainnet launch has sparked renewed interest, pushing the price to $0.85 with a 12% gain in 24 hours. The daily chart shows a breakout above the 50-day EMA ($0.82), with the Stochastic RSI nearing overbought but signaling strong buying pressure. The Ichimoku Cloud is turning bullish, with the price above the cloud. Expect a move toward $1.00 if momentum holds, but watch for profit-taking near $0.90. Place a stop-loss at $0.78 for safety.Key Levels: Resistance: $0.90, $1.00 | Support: $0.82, $0.78
Indicators: 50-day EMA ($0.82), Stochastic RSI (80), Ichimoku Cloud (Bullish)
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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.