$INIT wicked to $0.258 last night, its highest level in a year, and sits ~$0.215 now (+22% 24h, 11:19 ICT).
The fuel: on Oct 28 the Initia Foundation pledged to fully restore the 1:1 backing of the iUSD collateral drained in the Oct 23 exploit (~$2.7M). No INIT was minted in the hack.
The catch: the L1 is still halted. No restart date yet.
Bid $0.195–0.200 (Oct 27 high retest)
TP1 $0.228–0.234 · TP2 $0.252–0.258
Out: 4H close < $0.186
From $0.1975 (risk ~6.3%): ~2.4–2.9R / ~4.4–4.8R.
Wilder RSI 1D ~80 / 4H ~64. Daily is stretched, so no chase.
Does the chain restart pump it again, or become the exit? 👇
NFA. DYOR.
The fuel: on Oct 28 the Initia Foundation pledged to fully restore the 1:1 backing of the iUSD collateral drained in the Oct 23 exploit (~$2.7M). No INIT was minted in the hack.
The catch: the L1 is still halted. No restart date yet.
Bid $0.195–0.200 (Oct 27 high retest)
TP1 $0.228–0.234 · TP2 $0.252–0.258
Out: 4H close < $0.186
From $0.1975 (risk ~6.3%): ~2.4–2.9R / ~4.4–4.8R.
Wilder RSI 1D ~80 / 4H ~64. Daily is stretched, so no chase.
Does the chain restart pump it again, or become the exit? 👇
NFA. DYOR.
