$INIT Rejected at Broken Support Bearish Momentum Building
$INIT is losing steam after failing to reclaim previously broken support, with momentum now shifting back in favor of sellers.
Trading Plan – Short $INIT
Entry: 0.108 – 0.112
SL: 0.118
TP1: 0.102
TP2: 0.095
TP3: 0.088
Technical Analysis
After the recent sell off, $INIT attempted to stabilize, but buyers failed to push price back above the key reclaim zone.
The inability to recover that level keeps structure weak and confirms it as resistance rather than support.
Price action is beginning to roll over, with lower highs forming a clear sign that sellers are actively defending supply. Momentum is flipping bearish as upside attempts lose strength.
As long as this resistance region holds, liquidity resting below recent swing lows becomes the likely target.
Continued rejection here favors downside continuation toward deeper demand levels.
Stay patient for confirmation and manage risk accordingly.
