🚨 INIT is going wild! Up 28.6% in 24H, with another 9.0% rise in 1 hour and trading volume up 6.9x!
But what’s really strange is that OI rose only 0.5%, while retail longs reached 3.4x, and nearly all of the 66 discussions on the community page are bullish. This rally was fueled by Binance launching perpetual futures, negative funding rates, and short liquidations. Thin liquidity amplified the move, but the data still needs verification.
📊 What does this mean? Everyone’s afraid of missing out, and the targets keep getting higher. But chasing at the tail end of a squeeze could mean getting the direction right and still being the last one in.
🎯 Key levels:
Resistance: $0.1538 / $0.167
Support: $0.1413 / $0.114
The trend only continues if price breaks above resistance on strong volume and holds there; if support breaks, watch out for a long squeeze.
My take: The trend is bullish, but absolutely don’t chase blindly! If the breakout fails and price falls below $0.1413, watch for a pullback to $0.114.
Do you think INIT is headed for $0.167 next, or will it pull back to $0.114? 👇
#INIT #shortsqueeze
But what’s really strange is that OI rose only 0.5%, while retail longs reached 3.4x, and nearly all of the 66 discussions on the community page are bullish. This rally was fueled by Binance launching perpetual futures, negative funding rates, and short liquidations. Thin liquidity amplified the move, but the data still needs verification.
📊 What does this mean? Everyone’s afraid of missing out, and the targets keep getting higher. But chasing at the tail end of a squeeze could mean getting the direction right and still being the last one in.
🎯 Key levels:
Resistance: $0.1538 / $0.167
Support: $0.1413 / $0.114
The trend only continues if price breaks above resistance on strong volume and holds there; if support breaks, watch out for a long squeeze.
My take: The trend is bullish, but absolutely don’t chase blindly! If the breakout fails and price falls below $0.1413, watch for a pullback to $0.114.
Do you think INIT is headed for $0.167 next, or will it pull back to $0.114? 👇
#INIT #shortsqueeze