INIT +143.32% in 24 Hours on Short-Term Rally Amid Long-Term Downtrend

On AUG 29 2025, INIT surged by 143.32% within 24 hours, reaching $0.3534, while the 7-day cumulative increase reached 414.41%. Over a month, the coin plummeted by 1,576.39%, and in the past year, it has rebounded by 7,340%. The recent performance suggests a sharp but short-lived recovery amid a broader downward trend.

The price surge appears to be driven by a combination of short-term liquidity inflows and algorithmic trading activity, rather than new fundamental developments. Despite the large percentage gains, the asset remains well below the levels it reached during its peak in 2024. Analysts project that the rally may not be sustainable given the long-term bearish structure and lack of significant off-chain catalysts.

The weekly chart reveals a key pattern: the coin has broken through a prior resistance zone, which had previously capped its performance for several weeks. This break could indicate a shift in the market’s perception of the asset’s short-term value, though it remains within a larger downtrend channel. The RSI and MACD indicators suggest a temporary overbought condition, with divergences pointing to potential near-term volatility.

Technical traders are closely monitoring whether INIT can hold above the $0.3534 level, as a sustained break above this threshold might signal a reversal in the weekly trend. However, the monthly chart continues to show a bearish bias, with key support levels still untested and a long-term downtrend intact. The recent rise is best interpreted as a countertrend bounce rather than a reversal, especially in the absence of broad market optimism or a material shift in sentiment.

The technical indicators used in assessing the short-term reversal include the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Bollinger Bands, all of which show signs of exhaustion in the current rally. These tools are commonly used in backtesting strategies that aim to identify overbought conditions and potential turning points in price action.