$INIT is trading at 0.21074, down 13.51% over 24 hours. Today’s 9.4% gain wasn’t slowly chipped away—it was wiped out in just two hourly candles.
The two candles from 18:00 to 19:00 climbed from 0.21799 to 0.23857.
They saw $1.94 million in volume, a full 70% more than the previous two hours.
The 21:00 candle plunged from 0.22356 to 0.21000, shedding 6.1% in a single candle and wiping out all the gains from the previous three hours.
The real question isn’t how far it fell, but whether 0.20588 holds. That was the low of the 10:00 candle, and it’s already been tested once today.
If 0.20588 holds, 0.23857 is still within reach. If it breaks, this is pure distribution—don’t jump in.
The rally took two hours, but the retreat took just two candles. Those who chased at 0.238 are now stuck holding the bag, while dip buyers are still waiting for 0.205.
Are you selling your INIT or buying more?
Data: Binance spot 1-hour candles, 21:40 UTC+8, https://www.binance.com/zh-CN/price/initia
The two candles from 18:00 to 19:00 climbed from 0.21799 to 0.23857.
They saw $1.94 million in volume, a full 70% more than the previous two hours.
The 21:00 candle plunged from 0.22356 to 0.21000, shedding 6.1% in a single candle and wiping out all the gains from the previous three hours.
The real question isn’t how far it fell, but whether 0.20588 holds. That was the low of the 10:00 candle, and it’s already been tested once today.
If 0.20588 holds, 0.23857 is still within reach. If it breaks, this is pure distribution—don’t jump in.
The rally took two hours, but the retreat took just two candles. Those who chased at 0.238 are now stuck holding the bag, while dip buyers are still waiting for 0.205.
Are you selling your INIT or buying more?
Data: Binance spot 1-hour candles, 21:40 UTC+8, https://www.binance.com/zh-CN/price/initia
