$INIT is +29% since its exploit low. The comeback is real, but today's wick is a warning ⚠️
Quick recap: Initia was exploited on Oct 23 and dropped to 0.113. Since then the team has drafted a vulnerability fix and plans to restart the L1 and rollups after an audit.
The 4H chart:
• Price: 0.1636, +7.3% today
• Rising recovery lows: 0.113 → 0.137 → 0.145
• Spiked to 0.1987 earlier today, then sellers dumped it back
• Lid: 0.166 to 0.169, the Oct 25 highs
• Support: 0.149 to 0.157, where the EMA 20 sits
The plan:
🟢 A 4H close back above 0.169 = another push toward 0.185
🔴 Losing 0.149 = the recovery trend line breaks
That long upper wick shows heavy selling into strength. The network restart date is the next big catalyst.
Would you trade $INIT before or after the restart? 👇
NFA
#Initia #Altcoins #TechnicalAnalysis
No Binance account yet? Get 20% of your trading fees back 👉 Sign up on Binance
Quick recap: Initia was exploited on Oct 23 and dropped to 0.113. Since then the team has drafted a vulnerability fix and plans to restart the L1 and rollups after an audit.
The 4H chart:
• Price: 0.1636, +7.3% today
• Rising recovery lows: 0.113 → 0.137 → 0.145
• Spiked to 0.1987 earlier today, then sellers dumped it back
• Lid: 0.166 to 0.169, the Oct 25 highs
• Support: 0.149 to 0.157, where the EMA 20 sits
The plan:
🟢 A 4H close back above 0.169 = another push toward 0.185
🔴 Losing 0.149 = the recovery trend line breaks
That long upper wick shows heavy selling into strength. The network restart date is the next big catalyst.
Would you trade $INIT before or after the restart? 👇
NFA
#Initia #Altcoins #TechnicalAnalysis
No Binance account yet? Get 20% of your trading fees back 👉 Sign up on Binance
