Trade Setup: $INIT (SHORT)
• Bias: SHORT
• Entry Zone: $0.1115 – $0.1160
• Stop Loss: $0.1245
• Take Profit 1: $0.1040
• Take Profit 2: $0.0950
• Take Profit 3: $0.0840
• Risk Level: High
🧠 My Analysis
Caught late dip-buyers getting flushed for $1.34K right at $0.11179 as INIT continues bleeding out from its $0.39 blow-off top and recent $3.27M security exploit fallout. On the 4H chart, price has broken decisively below the 50-day SMA ($0.1331) with heavy bearish market structure and downward EMA slope pointing straight toward the 200-day SMA near $0.0820. Any weak relief bounce back into the $0.112–$0.116 supply pocket looks prime for a fade as trapped longs exit on rallies.
Market Bias: Strongly Bearish
* Fundamental & Sentiment Drag: INIT has plunged over 50% from its recent highs after Initia confirmed its second security exploit in three weeks (~$3.27M stolen) and temporarily paused Layer-1 operations. Even with the team pledging to replenish reserves, trust and spot demand remain heavily damaged.
• Bias: SHORT
• Entry Zone: $0.1115 – $0.1160
• Stop Loss: $0.1245
• Take Profit 1: $0.1040
• Take Profit 2: $0.0950
• Take Profit 3: $0.0840
• Risk Level: High
🧠 My Analysis
Caught late dip-buyers getting flushed for $1.34K right at $0.11179 as INIT continues bleeding out from its $0.39 blow-off top and recent $3.27M security exploit fallout. On the 4H chart, price has broken decisively below the 50-day SMA ($0.1331) with heavy bearish market structure and downward EMA slope pointing straight toward the 200-day SMA near $0.0820. Any weak relief bounce back into the $0.112–$0.116 supply pocket looks prime for a fade as trapped longs exit on rallies.
Market Bias: Strongly Bearish
* Fundamental & Sentiment Drag: INIT has plunged over 50% from its recent highs after Initia confirmed its second security exploit in three weeks (~$3.27M stolen) and temporarily paused Layer-1 operations. Even with the team pledging to replenish reserves, trust and spot demand remain heavily damaged.