$INIT just closed under $0.33193 — the extension died in one hour.
One hour ago this coin closed above the ceiling. Then the 05:00 UTC hour opened $0.34208, tagged $0.395, and closed $0.28908 — an $0.11 round trip inside a single candle, on $4.70M, the biggest INIT hour of the day. It closed under the $0.33193 ceiling and under the $0.29114 support in the same bar.
That is the verdict this morning's breakout asked for, answered the other way. The extension failed on its first test.
Live $0.271, +18.4% on the day — down from +56% an hour ago. High $0.395, low $0.1915, $41.8M traded. Chart: RSI 56, still above EMA20 $0.268 and EMA50 $0.224. The structure hasn't flipped — the momentum just got punched.
Context that hasn't changed: the chain is still halted. No restart date, no new announcement — the Nov 10 shutdown after the $615k outflow stands, the Oct 26 $2.7M exploit is the backdrop. A token trading on a switched-off chain, up 135% in a month on flow alone.
The other side, honestly: one close is one close. RSI cooled from 68 to 56, not washed out. One hourly close back above $0.33193 unwrites the whole chapter. And the forming hour is printing $0.271, still under $0.29114 — unclosed.
Levels: $0.395 is the high — a close above it is open air. $0.33193 is the broken ceiling. $0.29114 is the crack — a close back above it starts the healing. Below, $0.2478 is the floor that held twice last night, then $0.23434.
Not a call, either way. The 07:00 UTC close (12:30 IST) decides it: does $0.29114 get reclaimed, or does the give-back keep running toward $0.2478?
One hour ago this coin closed above the ceiling. Then the 05:00 UTC hour opened $0.34208, tagged $0.395, and closed $0.28908 — an $0.11 round trip inside a single candle, on $4.70M, the biggest INIT hour of the day. It closed under the $0.33193 ceiling and under the $0.29114 support in the same bar.
That is the verdict this morning's breakout asked for, answered the other way. The extension failed on its first test.
Live $0.271, +18.4% on the day — down from +56% an hour ago. High $0.395, low $0.1915, $41.8M traded. Chart: RSI 56, still above EMA20 $0.268 and EMA50 $0.224. The structure hasn't flipped — the momentum just got punched.
Context that hasn't changed: the chain is still halted. No restart date, no new announcement — the Nov 10 shutdown after the $615k outflow stands, the Oct 26 $2.7M exploit is the backdrop. A token trading on a switched-off chain, up 135% in a month on flow alone.
The other side, honestly: one close is one close. RSI cooled from 68 to 56, not washed out. One hourly close back above $0.33193 unwrites the whole chapter. And the forming hour is printing $0.271, still under $0.29114 — unclosed.
Levels: $0.395 is the high — a close above it is open air. $0.33193 is the broken ceiling. $0.29114 is the crack — a close back above it starts the healing. Below, $0.2478 is the floor that held twice last night, then $0.23434.
Not a call, either way. The 07:00 UTC close (12:30 IST) decides it: does $0.29114 get reclaimed, or does the give-back keep running toward $0.2478?
