$INIT – SHARP SELL-OFF BREAKS KEY SUPPORT
$INIT has plunged from 0.4846, accelerating its decline after breaking below crucial intraday supports. Price touched a low of 0.4234 before a slight bounce to 0.4320, but the large red candle with a volume spike signals strong bearish momentum. If buyers fail to reclaim the 0.4400–0.4450 zone, further declines toward 0.4180 and 0.4050 are likely.
Short Trade Setup:
Entry Zone: 0.4310 – 0.4330
Targets: 0.4230 / 0.4180
Stop Loss: 0.4455
Market sentiment remains weak, with sellers holding control — long entries remain high-risk until a confirmed reversal structure forms.