INIT/USDT Potential Bullish Reversal After Falling Wedge Break

📊 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