$INIT Surges 23% – Breakout Rally or Just a Spike?
The $INIT pair just recorded a solid +23.56% daily gain, peaking at $0.8792 before easing back to $0.8219. While momentum appears strong, early signs of exhaustion are creeping in.
Chart Overview (1H Candles):
Breakout initiated from $0.6200, climbing steadily with controlled pullbacks
Reached a high of $0.8792, now in minor consolidation
Higher highs and higher lows suggest bullish structure remains intact (for now)
Volume Watch:
24h Vol (INIT): 105.44M with USDT Vol at 82.27M – healthy but cooling
No flash pump — this looks like organic accumulation with whale push
Price Action Levels:
Support: $0.763 / $0.706 / $0.653
Resistance: $0.8792 (local top), breakout beyond this could target $0.90+
Sentiment Shift:
Order book flipped slightly bearish: 54.33% Sellers vs. 45.67% Buyers
Might indicate short-term correction or profit-taking zone near $0.82
Key Takeaway:
This could be a swing trade opportunity if support holds above $0.76
RSI & MACD confirmation recommended before entering new longs
Break below $0.76 could trigger quick fall to mid-$0.70s
