Initia/Tether (INITUSDT) Market Overview for 2025-11-07

Summary
• Price climbed from $0.1145 to $0.1312 on strong late-session buying.
• Volatility expanded with volume peaking at $1.2 million per hour during the 16:00–17:00 ET window.
• RSI surged into overbought territory as price approached 0.1313, suggesting possible near-term pullback.

The 24-hour session for Initia/Tether (INITUSDT) opened at $0.1145 on 2025-11-06 12:00 ET and closed at $0.1312 on 2025-11-07 12:00 ET. The pair reached a high of $0.1313 and a low of $0.1133, with a total 24-hour volume of 9.4 million tokens and a turnover of $1.22 million. Price showed a clear upward bias, with strong momentum emerging after 15:30 ET.

Structure & Formations

Price action formed a bullish continuation pattern as the 24-hour range broke above prior resistance at $0.1268–$0.1271. A key support area emerged around $0.1165–$0.1170, which held for several hours before the breakout. No major doji patterns appeared, but a bullish engulfing pattern was visible at the 15:30–16:00 ET hour, confirming a shift in momentum. The final hour (17:00 ET) capped the session at a new 24-hour high.

Moving Averages

Short-term momentum was clearly above both the 20-period and 50-period moving averages on the 15-minute chart. The daily chart showed a wider separation between the 50 and 200-day averages, suggesting a potential continuation in the short-to-medium term. The price is currently well above the 20-period MA, indicating positive inertia.

MACD & RSI

MACD crossed into positive territory around 16:30 ET and remained bullish for the remainder of the session. RSI surged above 70 by 17:00 ET, indicating overbought conditions. While this could signal a short-term correction, it also confirms strong demand at higher levels.

Bollinger Bands

Volatility increased significantly toward the end of the session, with price reaching the upper band at $0.1313. The expansion of the bands indicates a period of aggressive price discovery. The mid-band remained well below the closing price, suggesting a breakout from a range-trading environment.

Volume & Turnover

Volume showed a clear increase in buying pressure after 15:30 ET, with a peak of 962k tokens in the 16:00–16:15 ET window. Turnover reached $1.2 million in the final hour, confirming strong conviction in the upward move. No significant divergences were observed between price and volume, indicating aligned demand and sentiment.

Fibonacci Retracements

Applying Fibonacci levels to the 24-hour move from $0.1133 to $0.1313, key retracement levels of 61.8% (~$0.1225) and 38.2% (~$0.1185) were tested earlier in the session. Price now appears to be testing the 161.8% extension level (~$0.1400), which could be a near-term target if the current trend continues.

Backtest Hypothesis

A backtesting strategy was attempted to identify Bullish Engulfing patterns in the historical candlestick data for INITUSDT. However, the data source returned an error, likely due to the symbol not being available or formatted correctly. To proceed, the exact symbol and exchange (e.g., "INIT/USDT on Binance") must be confirmed, or an alternative ticker with available data must be provided. Once valid data is retrieved, the strategy will detect all Bullish Engulfing patterns and apply a 48-hour hold rule for signal testing. This will allow for performance analysis and visualization of the strategy's effectiveness in this market.