⚠️ INIT: After a 90%+ Rally, Is a Pullback Next?
$INIT has surged sharply to around $0.2497, but the latest 4H candle shows a long upper wick near $0.2880 — a sign that sellers may be stepping in.
📉 Short idea to watch:
Resistance: $0.259–$0.288
First support: $0.221
Next support: $0.184
I’m watching for a confirmed rejection and weakness below $0.221 before considering a short. If buyers hold the breakout, this bearish idea is invalidated.
After such a powerful rally, chasing the move can be risky. Let price confirm its next direction.
#INIT #Initia #CryptoTrading #futures
$INIT has surged sharply to around $0.2497, but the latest 4H candle shows a long upper wick near $0.2880 — a sign that sellers may be stepping in.
📉 Short idea to watch:
Resistance: $0.259–$0.288
First support: $0.221
Next support: $0.184
I’m watching for a confirmed rejection and weakness below $0.221 before considering a short. If buyers hold the breakout, this bearish idea is invalidated.
After such a powerful rally, chasing the move can be risky. Let price confirm its next direction.
#INIT #Initia #CryptoTrading #futures
