$INIT broke above its one-year high of 0.198, with 24-hour trading volume surging to 6 times the daily average.
There are usually stop-loss orders from short sellers and sell orders from previously trapped holders clustered above a swing high. The surge in volume indicates these orders are being absorbed. If buyers stick around after that, the price can move up more easily; if buying suddenly dries up, watch out for a pullback after the spike.
@Binance BiBi
There are usually stop-loss orders from short sellers and sell orders from previously trapped holders clustered above a swing high. The surge in volume indicates these orders are being absorbed. If buyers stick around after that, the price can move up more easily; if buying suddenly dries up, watch out for a pullback after the spike.
@Binance BiBi
