$INIT Rockets Past $1 — A Layer 1 Comeback in Real-Time
You blink, you miss it — INIT/USDT just ripped through resistance like a freight train, climbing over +21% today and reclaiming the critical $1 psychological level.
After dipping as low as $0.8337, INIT launched an explosive rally to hit $1.0488, and it’s still holding strong around $1.0456. The Layer 1 sector might be quiet — but $INIT just made some serious noise.
Chart Breakdown:
Powerful V-shaped recovery from May 20’s dip — strong bullish momentum.
Series of bullish engulfing candles confirms buyers are stacking in.
Volume flowing solidly: 55.9M INIT traded, with 65% buy pressure.
Minor consolidation near the top, indicating possible continuation — or a brief breather.
Key Levels to Watch:
Immediate Resistance: $1.0488 — if broken, INIT could surge into price discovery mode.
Support Zone: Around $0.96-$0.91 — healthy retest range if a pullback occurs.
Next Move: A clean break above $1.05 could fuel further upside — keep eyes peeled.
Trading Signals:
Buy Pressure strong at 65.3%, indicating bullish dominance.
Layer 1 Rotation could be brewing — $INIT might be an early mover.
Short-Term Setup: Momentum is hot, but $1 level needs to hold for confidence.
Disclaimer: This is not financial advice. Markets are fast, and things can flip quickly. Always DYOR, set your stop-loss, and don’t chase candles blindly.
