$INIT is up +20% and everyone's piling in late. I'm looking the other way 👇
After climbing from 0.11709 to 0.14452 in 38 hours (+20% on the day), momentum is showing signs of exhaustion.
It pushed above 0.13905 for a moment, got sold hard from 0.14452 and INIT is now right at that old high again. Looks like a breakout that didn't hold, and anyone who bought up there is probably getting nervous.
My eyes $INIT are on 0.11991, the low of the earlier pullback. A lot of stops are sitting there and price hasn't tested it yet. Above 0.14452 I'm out of this idea.
📌 My INIT trade: short from 0.14233, stop at 0.15354, target 0.11991 (+15.8%, 1:2)
📊 24h Vol: $37.3M | 24h Chg: +20.1% | Funding: -0.6312%
Agree or disagree? Let me know 👇
Follow for daily chart breakdowns 🔔
Just my view, not financial advice.
#INIT #Analysis #Trading
After climbing from 0.11709 to 0.14452 in 38 hours (+20% on the day), momentum is showing signs of exhaustion.
It pushed above 0.13905 for a moment, got sold hard from 0.14452 and INIT is now right at that old high again. Looks like a breakout that didn't hold, and anyone who bought up there is probably getting nervous.
My eyes $INIT are on 0.11991, the low of the earlier pullback. A lot of stops are sitting there and price hasn't tested it yet. Above 0.14452 I'm out of this idea.
📌 My INIT trade: short from 0.14233, stop at 0.15354, target 0.11991 (+15.8%, 1:2)
📊 24h Vol: $37.3M | 24h Chg: +20.1% | Funding: -0.6312%
Agree or disagree? Let me know 👇
Follow for daily chart breakdowns 🔔
Just my view, not financial advice.
#INIT #Analysis #Trading
