๐จ $INIT /USDT just hit $0.4802 (-26.18%), inching dangerously close to its all-time low of $0.4741 โ will it break or bounce?
๐ Since peaking at $1.4419, INIT has shed over 66% in just one month. RSI is crushed at 11.93, signaling extreme oversold conditions. MACD is deeply bearish.
๐ Order book still shows strong bid interest (64.22%), but the downtrend is dominating.
๐ง Initia aims to revolutionize Layer 1 with native rollups and unified economic layers โ solid fundamentals, but price is on life support.
With Vol/MC at 171.86%, heavy hands are clearly in play.
๐ก๏ธ Will buyers defend this support or are we headed for price discovery in reverse?
โ๏ธ Your move, market.