#INIT/USDT Potential Bullish Reversal After Down Channel Break

#INIT

The price is moving within a descending channel on the 1-hour frame and is expected to break and continue upward.

We have a trend to stabilize above the 100 moving average once again.

We have a downtrend on the RSI indicator that supports the upward break.

We have a support area at the lower limit of the channel at 0.3800, acting as strong support from which the price can rebound.

Entry price: 0.4664
First target: 0.5115
Second target: 0.5579
Third target: 0.6248
To manage risk, don't forget stop loss and capital management.

When you reach the first target, save some profits and then change the stop order to an entry order.

For inquiries, please comment.

Thank you.