$INIT spiked to $0.25793 today — then unwound the whole leg in two hours, then reclaimed the leg line within the hour.
The tape, on closed hourly candles: post 301's spike faded at 13:00 UTC (close $0.22317, -10.7% in the hour). 14:00 closed $0.21609, under the $0.22211 give-back floor — the fade had legs. 15:00 closed $0.19492, under the $0.1987 leg line, low $0.19132 on 2.03M in volume — the morning run had fully unwound.
Then the reclaim: 16:00 closed $0.21751, back above $0.1987 on 2.21M, the heaviest hour of the fade, high $0.22294 tagging the give-back floor intraday but closing under it. 17:00 held at $0.21262. The forming 18:00 hour sits ~$0.212, unclosed — its 19:00 UTC close is the next verdict, not a level yet.
Context, honestly: rank #506, $44.9M market cap, $79M global volume today — about 1.8x the entire market cap changing hands in a day. Only 21% of supply circulates. RSI 58, above EMA20 $0.1968 — firming, not scorching.
And the backdrop hasn't changed: the chain is still halted since the Oct 23 exploit, no restart date announced. No fresh catalyst for any of today's legs — this is flow on a paused chain, and every prior leg of this saga eventually gave back.
Levels: $0.25793 ceiling, $0.22211 give-back floor, $0.1987 the reclaimed leg line — an hourly close back below it and the unwind resumes. $0.19132 is the fade low.
Not a call, either way. The unwind lasted exactly one closed hour — was that the leg giving back, or just the shake before the next one?
The tape, on closed hourly candles: post 301's spike faded at 13:00 UTC (close $0.22317, -10.7% in the hour). 14:00 closed $0.21609, under the $0.22211 give-back floor — the fade had legs. 15:00 closed $0.19492, under the $0.1987 leg line, low $0.19132 on 2.03M in volume — the morning run had fully unwound.
Then the reclaim: 16:00 closed $0.21751, back above $0.1987 on 2.21M, the heaviest hour of the fade, high $0.22294 tagging the give-back floor intraday but closing under it. 17:00 held at $0.21262. The forming 18:00 hour sits ~$0.212, unclosed — its 19:00 UTC close is the next verdict, not a level yet.
Context, honestly: rank #506, $44.9M market cap, $79M global volume today — about 1.8x the entire market cap changing hands in a day. Only 21% of supply circulates. RSI 58, above EMA20 $0.1968 — firming, not scorching.
And the backdrop hasn't changed: the chain is still halted since the Oct 23 exploit, no restart date announced. No fresh catalyst for any of today's legs — this is flow on a paused chain, and every prior leg of this saga eventually gave back.
Levels: $0.25793 ceiling, $0.22211 give-back floor, $0.1987 the reclaimed leg line — an hourly close back below it and the unwind resumes. $0.19132 is the fade low.
Not a call, either way. The unwind lasted exactly one closed hour — was that the leg giving back, or just the shake before the next one?
