The cryptocurrency market is showing signs of recovery following a recent sharp decline. Ethereum's price has increased to $3,460 after hitting a 24-hour low of $3,357. In this context, several altcoins, including Initia (INIT), are beginning to demonstrate positive dynamics.
Market Recovery
The cryptocurrency market is slowly recovering after a significant price drop. Ethereum, one of the leading cryptocurrencies, showed growth up to $3,460, which served as a meaningful signal for investors. With increased interest in altcoins, INIT has also started to move upward.
'Power of 3' Pattern for INIT
On the 4-hour timeframe, INIT is forming a 'Power of 3' pattern consisting of three distinct phases:
1. **Accumulation** – price consolidates in a base region. 2. **Manipulation** – a false breakdown or shakeout occurs. 3. **Expansion** – a sharp move in the direction of the trend.
Last week, INIT replayed this sequence, initially dropping into the accumulation zone, then receiving a strong buy signal and rallying by over 52% after breaking above the trendline.
Future of INIT and Potential Trends
If INIT successfully breaks above its trendline and reclaims the 50 and 100 moving average zones, it could confirm the Expansion phase. The target resistance level could be around $0.49, representing over 21% upside from current levels. However, a clear breakout is essential for confirmation.
The cryptocurrency market is showing signs of recovery, and Initia could be a key asset to watch in the coming days. Given the current trends, investors should continue to monitor price dynamics and critical support and resistance levels.
