$INIT just gave the leg back — $0.15095 closed under $0.15544, and the reopen from the last post lasted less than a day.
The last post left the leg reopened: four straight closes above $0.15544, $0.15677 up to $0.15998. It never closed above the $0.1680 ceiling — 18:00 closed $0.16524, then the bleed: $0.16400, $0.16010, $0.15736. Then 22:00 closed $0.15414, the first hour back under the line, and 23:00 closed $0.15095, lower again. The forming hour is $0.1508, still below, unclosed — not claimed as a further break.
Live $0.1508, -5.5% in 24 hours, $3.09M Binance volume. CoinGecko: rank #618, $31.8M market cap — genuinely micro — global volume $12.7M, 210.8M of 1B circulating, -89% off the $1.42 all-time high. 1h chart on closed candles: RSI 45, under EMA20 $0.1558, sitting on EMA50 $0.1514. Cooling, not washed out.
No fresh catalyst for this leg — the backdrop is still the October 23 mint exploit, about $2.6M, and the halted chain. That is flow unwinding on a paused chain, not a new headline.
Levels: resistance $0.15544 — an hourly close back above it reopens the leg again — then $0.1608, then $0.1680. Support $0.1494 — a close below it deepens the give-back — then $0.1451, then the $0.1301 shelf.
Not a call, in either direction. A coin that reopened and failed its own leg twice in two days can rip back just as fast as it faded.
Close back above $0.15544, or $0.1494 next?