Market Overview for Initia/Tether (INITUSDT) on 2026-01-03

Summary
• Price declined from a high of 0.0946 to 0.0914, with key support tested at 0.0908.
• RSI signaled overbought conditions earlier but shifted to bearish momentum post 08:45 ET.
• Volatility expanded with a Bollinger Band contraction preceding a sharp 5-minute drop to 0.0908.
• A bearish engulfing pattern formed around 07:30 ET, confirming short-term weakness.
• Turnover surged during the final 90 minutes, confirming the breakdown below key support.

24-Hour Performance

Initia/Tether (INITUSDT) opened at 0.0922 on 2026-01-02 at 12:00 ET, reached a high of 0.0946, and closed at 0.0914 on 2026-01-03 at 12:00 ET. The total 24-hour volume was 5,663,344.2, with a notional turnover of 509,773.89 USD.

Structure and Trend Analysis

Price traced a bearish trend throughout the 24-hour period, forming a key bearish engulfing pattern at the 07:30 ET 5-minute candle. This confirmed a breakdown from prior consolidation between 0.0920 and 0.0938. The 0.0908 level acted as strong support after the 07:45 ET breakdown, which marked the lowest point of the day and coincided with a volatility spike.

Momentum and Volatility

The RSI peaked above 60 in the early hours, indicating overbought conditions, but then dropped sharply below 30 in the late morning, reflecting bearish momentum. Bollinger Bands showed a contraction prior to the 07:45 ET drop, followed by a sharp expansion as price fell to the session low. The 20-period and 50-period moving averages on the 5-minute chart were both below price, reinforcing the downward bias.

Volume and Turnover Dynamics

Volume and turnover surged in the final 90 minutes of the session, particularly during the 07:30–08:45 ET window, confirming the breakdown from key support. The divergence between early volume and price weakness was minimal, suggesting capitulation rather than a false breakdown. The total 5-minute volume of 5,663,344.2 tokens supported the bearish move with increasing conviction.

Forward Outlook and Risk Consideration

With the 0.0908 level now tested and a bearish bias established, Initia/Tether may face near-term pressure toward 0.0900. A close above 0.0931 could signal a potential short-term rebound, but for now, the 0.0914–0.0931 range may define the next consolidation phase. Traders should watch for volatility and potential follow-through selling into the next 24 hours.