$INIT /USDT has caught fire in the last 24 hours, soaring over 32% and currently trading around $0.8425. From a technical perspective, what we’re witnessing is a strong breakout move following a consolidation and accumulation phase that bottomed around $0.6171. Since then, the price action has formed a series of higher lows and higher highs—classic bullish behavior signaling renewed investor confidence and potential trend reversal from previous weakness.
The hourly chart tells a compelling story: INIT just punched through local resistance to set a new 24-hour high at $0.8437, nearly kissing the $0.8551 mark. This sharp breakout is backed by a strong bullish candle with little wick on top—indicative of buying pressure persisting into the close. The price isn’t showing hesitation, and volume on both INIT and USDT pairs is surging—suggesting this move is not a fluke, but supported by solid trading activity.
Given the momentum and structure, INIT is poised to retest and likely break through $0.8550 in the near term. If it does, psychological targets like $0.90 and the $1.00 mark could quickly come into view as FOMO buyers chase the breakout. On the flip side, short-term retracements are likely to find support around the $0.75–$0.78 zone, which aligns with prior resistance turned support.
Unless volume dries up or a broader market reversal takes place, INIT seems to be entering a bullish continuation phase. Traders should keep an eye on price action near $0.8550—this could be the launchpad for the next leg up.
