$INIT plunged 39% in a single day from its high of $0.30298, with the daily chart printing a massive bearish candle with a long upper shadow on heavy volume. The price has fallen back to the previous consolidation range of $0.155–$0.21.
The 1-hour chart is currently at $0.16334. MA7 ($0.18569) and MA25 ($0.22595) have both turned sharply downward, creating a dense resistance zone overhead.
Price is barely holding on to the 1-hour MA99 ($0.16292), with virtually no buying support from the bulls.
Buyers who chased the rally near the highs are now trapped across the board. Any rebound toward $0.185 is likely to meet selling pressure as holders rush to break even. If the $0.1629 moving-average support gives way, the price will head straight to test the lower edge of the $0.155 range.
#CPI高于预期，美股与BTC再度承压 #INIT $INIT #JCT $JCT 👇
The 1-hour chart is currently at $0.16334. MA7 ($0.18569) and MA25 ($0.22595) have both turned sharply downward, creating a dense resistance zone overhead.
Price is barely holding on to the 1-hour MA99 ($0.16292), with virtually no buying support from the bulls.
Buyers who chased the rally near the highs are now trapped across the board. Any rebound toward $0.185 is likely to meet selling pressure as holders rush to break even. If the $0.1629 moving-average support gives way, the price will head straight to test the lower edge of the $0.155 range.
#CPI高于预期，美股与BTC再度承压 #INIT $INIT #JCT $JCT 👇
