$INIT INITUSDT Update: After the explosive +64% move toward 0.1354, price has cooled off and is now stabilizing around the 0.117–0.120 zone. The pump was driven by a clean breakout above the 0.105 resistance area, supported by strong volume expansion and a bullish short-term MA alignment (MA7 > MA25 > MA99). This structure triggered momentum buyers and likely forced short liquidations, accelerating the move vertically. The sharp wick from 0.1354 shows profit-taking near intraday resistance, but the pullback so far appears controlled rather than a full breakdown. As long as price holds above the 0.111–0.113 support region, the bullish structure on lower timeframes remains intact.
Going forward, the key level to watch is 0.123; a decisive break and hold above it increases probability of another push toward 0.1354 and potentially 0.145 extension. However, failure to defend 0.111 could open room for a deeper retrace toward 0.105, which was the original breakout zone and a strong demand area. Considering the recent 60%+ expansion, volatility remains elevated and leverage trades carry high liquidation risk. For continuation, market needs consolidation with sustained volume; otherwise, this move risks turning into a relief rally inside the broader downtrend structure