INIT ran +25.9% today but gave most of it back from the 0.258 high.
The candle shows a long upper wick on $19M of volume. That's a lot of supply showing up at the top of the 7-day range. For now, price is holding the EMA20 at 0.204.
This looks like a classic rejection. The momentum from the last 24 hours just hit a wall of sellers.
Is this a healthy pullback to buy before the next leg, or was that wick the exit liquidity?
$INIT
Follow for the next read — posted the moment the tape moves.
The candle shows a long upper wick on $19M of volume. That's a lot of supply showing up at the top of the 7-day range. For now, price is holding the EMA20 at 0.204.
This looks like a classic rejection. The momentum from the last 24 hours just hit a wall of sellers.
Is this a healthy pullback to buy before the next leg, or was that wick the exit liquidity?
$INIT
Follow for the next read — posted the moment the tape moves.
