$INIT Price correction seeks support, risk management under long-term capital accumulation
Recent price trend (4-hour chart):
INIT price has recently experienced a significant surge, peaking at 1.2454 USDT. Subsequently, there has been a high-level correction and consolidation, with the current price around 1.1415 USDT, and short-term momentum has weakened somewhat.
Capital data review (exchange positions): Data shows that INIT has seen a significant net inflow in long positions (2 days to 7 days) on exchanges, indicating that long-term capital is still accumulating, and the positions on exchanges account for nearly half of the circulating market value.
Technical analysis and key support:
Immediate resistance: Recent high of 1.2454 USDT.
Key support levels (S -4H): The chart clearly marks two important support levels:
0.9870 USDT
0.8149 USDT These are critical areas where buying interest may emerge if the price continues to correct.
Comprehensive analysis and risk consideration: INITU price has corrected from its highs, indicating short-term profit-taking or weakening bullish momentum. However, in conjunction with previous position data, long-term capital continues to accumulate, which may suggest that some funds are stepping in during the correction.
Risk warning: Despite the accumulation of long-term capital, the price correction may continue. It is crucial to closely monitor the two key support levels of 0.9870 USDT and 0.8149 USDT. If these support levels are effectively broken, it may trigger a deeper correction. During the current correction trend, strict stop-loss settings are essential, and positions should be cautiously managed based on support level performance to avoid blindly bottom-fishing or chasing highs.