📊 Chart Pattern & Structure
Descending Trendline (Yellow Line): From early May to late June, INIT/USDT formed consistent lower highs and lower lows, creating a strong downtrend structure.
Accumulation Phase: In late June, the price consolidated around the $0.40 – $0.48 range, forming a base and is now attempting a breakout above the descending trendline.
Key Horizontal Resistance Levels (Yellow Dashed Lines):
$0.5843
$0.6421
$0.7546
$0.9193
$1.1766
$1.3828
🚀 Bullish Scenario
If INIT confirms a breakout above the descending trendline, it signals a potential trend reversal from bearish to bullish momentum.
📌 Short to Mid-Term Bullish Targets:
1. $0.5843 – Initial resistance.
2. $0.6421 – Previous support/resistance zone.
3. $0.7546 – Strong resistance with historical significance.
4. $0.9193 – $1.1766 – Mid-term upside targets.
5. $1.3828 – $1.4477 – Long-term target and previous high zone.
📈 Bullish Confirmation Signs:
Increased breakout volume.
Successful retest of the trendline as support.
🐻 Bearish Scenario
If the breakout fails and price falls back below the trendline:
⚠️ Possible Downside Risks:
Rejection back to the $0.4200 – $0.4800 range.
If $0.4200 breaks, price may retest deeper support around $0.3500 – $0.3000.
Breakdown below $0.3000 could lead to a move toward $0.2600 (historical demand).
📐 Pattern Analysis
Falling Wedge / Descending Channel: A typical bullish reversal pattern.
The breakout indicates accumulation and potential impulse movement to the upside.
Aligns with the beginning of a new Elliott Wave cycle (Wave 1 formation).
📝 Strategy Summary
Bullish Setup: Look for a pullback to retest the trendline for a potential long entry, targeting resistance levels step by step.
Bearish Setup: Watch out for a false breakout followed by a breakdown back below the trendline.
#INIT #INITUSDT #CryptoBreakout #FallingWedge #AltcoinAnalysis #TrendReversal #TechnicalAnalysis #CryptoTrading #BullishSetup #CryptoSignals #PriceAction
Descending Trendline (Yellow Line): From early May to late June, INIT/USDT formed consistent lower highs and lower lows, creating a strong downtrend structure.
Accumulation Phase: In late June, the price consolidated around the $0.40 – $0.48 range, forming a base and is now attempting a breakout above the descending trendline.
Key Horizontal Resistance Levels (Yellow Dashed Lines):
$0.5843
$0.6421
$0.7546
$0.9193
$1.1766
$1.3828
🚀 Bullish Scenario
If INIT confirms a breakout above the descending trendline, it signals a potential trend reversal from bearish to bullish momentum.
📌 Short to Mid-Term Bullish Targets:
1. $0.5843 – Initial resistance.
2. $0.6421 – Previous support/resistance zone.
3. $0.7546 – Strong resistance with historical significance.
4. $0.9193 – $1.1766 – Mid-term upside targets.
5. $1.3828 – $1.4477 – Long-term target and previous high zone.
📈 Bullish Confirmation Signs:
Increased breakout volume.
Successful retest of the trendline as support.
🐻 Bearish Scenario
If the breakout fails and price falls back below the trendline:
⚠️ Possible Downside Risks:
Rejection back to the $0.4200 – $0.4800 range.
If $0.4200 breaks, price may retest deeper support around $0.3500 – $0.3000.
Breakdown below $0.3000 could lead to a move toward $0.2600 (historical demand).
📐 Pattern Analysis
Falling Wedge / Descending Channel: A typical bullish reversal pattern.
The breakout indicates accumulation and potential impulse movement to the upside.
Aligns with the beginning of a new Elliott Wave cycle (Wave 1 formation).
📝 Strategy Summary
Bullish Setup: Look for a pullback to retest the trendline for a potential long entry, targeting resistance levels step by step.
Bearish Setup: Watch out for a false breakout followed by a breakdown back below the trendline.
#INIT #INITUSDT #CryptoBreakout #FallingWedge #AltcoinAnalysis #TrendReversal #TechnicalAnalysis #CryptoTrading #BullishSetup #CryptoSignals #PriceAction
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✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
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.