Market Overview for Initia/Tether (INITUSDT)

Summary
• Price formed a bullish engulfing pattern near 0.0850, followed by a test at 0.0861.
• Volume spiked above 200,000 at 0.0860, confirming the recent breakout.
• RSI moved into overbought territory, while price hovered near the upper Bollinger Band.
• A 61.8% Fibonacci retracement level at 0.0856 acted as short-term support.

24-Hour Price and Volume Summary

Initia/Tether (INITUSDT) opened at 0.0849 on 2025-12-16 at 12:00 ET, reached a high of 0.0862, a low of 0.0841, and closed at 0.0850 on 2025-12-17 at 12:00 ET. Total volume for the 24-hour window was 6,429,955, while turnover (amount) totaled 1,238.

Structure and Key Levels

Price action formed a bullish engulfing pattern at 0.0850 after a bearish reversal at 0.0844, signaling a shift in sentiment. A key support level appears near 0.0844, with resistance confirmed at 0.0860-0.0861 during midday trading. The 61.8% Fibonacci retracement level at 0.0856 provided temporary support, halting a downward correction.

Momentum and Volatility

The RSI climbed into overbought territory near 65, while MACD showed a bullish crossover with a narrowing histogram. Volatility expanded as the price approached and briefly exceeded the upper Bollinger Band. This suggests increased bullish activity and potential for a pullback.

Volume and Turnover Dynamics

Volume surged above 200,000 at 0.0860, coinciding with a price test of the 0.0861 resistance. Notional turnover also increased during this period, confirming the breakout. No notable divergence was observed between price and volume, suggesting alignment between price action and market participation.

Forward Outlook and Risk Note

Price may consolidate near 0.0855–0.0857 before testing 0.0860 again. A break above 0.0862 could signal renewed bullish momentum. However, a failure to hold above 0.0844 may lead to a retest of that support level. Investors should watch for divergences in RSI or volume as early risk signals.