$INIT has completely gone out of control, and right now it’s at the top of the losers list, with an almost 25% drop.
This is a punishment for those who blindly FOMO’d into long positions, and honestly, I think it’s justified. Hopefully, they learn not to repeat the same mistake.
On the 1H chart, the exact top was $0.20, from where the price started dropping like a waterfall, and the downtrend is still continuing.
It’s clearly showing bearish structure, and $0.15 is also looking very weak now. Given the current situation, I expect the next drop to reach $0.13.
This is a punishment for those who blindly FOMO’d into long positions, and honestly, I think it’s justified. Hopefully, they learn not to repeat the same mistake.
On the 1H chart, the exact top was $0.20, from where the price started dropping like a waterfall, and the downtrend is still continuing.
It’s clearly showing bearish structure, and $0.15 is also looking very weak now. Given the current situation, I expect the next drop to reach $0.13.
