$INIT Initia (INIT) Market Update: Security Patch Restart on Nov 2 Meets a Bearish Chart — $0.188 Is the Line
INIT is trading near $0.13–$0.14, down sharply from October highs around **$0.26**, as the market digests a recent security breach. The token now sits deep in a **bearish structure**—MA5 at $0.1876 remains below MA20 at $0.2012, and the MACD histogram is still negative.
The Catalyst: Initia L1 and Rollups are scheduled to restart on November 2 after applying an independently audited MoveVM patch to isolate forged balances from the attacker. Support for AUSD0, USDC.n, and WETH will be fully restored, and no user action is required. This is a real event—but event-driven rallies often fade once the news is priced in.
The Warning: Funding remains positive (+0.0050%), meaning longs are still paying to hold losing positions—a setup that favors further downside if the restart fails to spark spot demand. Liquidity is also thin, with 24h volume around $9–10M USDT, making wicks and fakeouts common.
Binance Trade Setup: A short on a rally into $0.188–$0.200 with volume, TP1 $0.180**, **TP2 $0.171, stop above $0.206**. Only flip long if INIT **closes above $0.206 with volume—then $0.23–$0.26 opens up. DYOR—the restart is binary, and the chart still belongs to sellers.
INIT is trading near $0.13–$0.14, down sharply from October highs around **$0.26**, as the market digests a recent security breach. The token now sits deep in a **bearish structure**—MA5 at $0.1876 remains below MA20 at $0.2012, and the MACD histogram is still negative.
The Catalyst: Initia L1 and Rollups are scheduled to restart on November 2 after applying an independently audited MoveVM patch to isolate forged balances from the attacker. Support for AUSD0, USDC.n, and WETH will be fully restored, and no user action is required. This is a real event—but event-driven rallies often fade once the news is priced in.
The Warning: Funding remains positive (+0.0050%), meaning longs are still paying to hold losing positions—a setup that favors further downside if the restart fails to spark spot demand. Liquidity is also thin, with 24h volume around $9–10M USDT, making wicks and fakeouts common.
Binance Trade Setup: A short on a rally into $0.188–$0.200 with volume, TP1 $0.180**, **TP2 $0.171, stop above $0.206**. Only flip long if INIT **closes above $0.206 with volume—then $0.23–$0.26 opens up. DYOR—the restart is binary, and the chart still belongs to sellers.