Market Overview for Initia/Tether (INITUSDT) on 2025-12-21

Summary
• Price action shows a bearish reversal with a high of $0.0881 and low of $0.0835.
• Key resistance at $0.0876 and support at $0.0846 were tested multiple times.
• Volume spiked during the 19:30–20:30 ET window, confirming downward momentum.
• MACD turned negative, and RSI entered oversold territory below 30, suggesting potential short-term bounce.
• Volatility expanded in the early morning, with price trading near the lower Bollinger Band for much of the session.

Market Overview

Initia/Tether (INITUSDT) opened at $0.0859 on 2025-12-20 at 12:00 ET and closed at $0.0844 on 2025-12-21 at 12:00 ET. The 24-hour range was between $0.0881 (high) and $0.0835 (low). Total volume amounted to 1,820,618.8 units, with a notional turnover of approximately $156,000.

Structure & Key Levels

The price tested key resistance at $0.0876 (61.8% Fibonacci level of the 19:15–20:30 ET rally) multiple times, with bearish rejection observed in the 20:30–21:45 ET window. Support at $0.0846 (38.2% retracement of the 04:45–07:00 ET decline) held on two occasions. A bearish engulfing pattern was visible at 21:30–21:45 ET, confirming the bearish bias.

Technical Indicators

The MACD turned negative from 20:15 ET, signaling waning bullish momentum, while the RSI dipped below 30 in the final hours, hinting at oversold conditions. The 20-period EMA was above the 50-period EMA early on, but the 50-period line crossed below at 19:30 ET, reinforcing the downward trend.

Bollinger Bands showed a noticeable expansion in the early morning hours, with price testing the lower band at $0.0835. Volatility remained elevated during the 19:30–20:30 ET period, coinciding with a large-volume bearish candle that closed at $0.0876.

Volume and Turnover

Volume spiked sharply during the 19:30–20:30 ET window (peak at 302,799 units), confirming the bearish reversal. Turnover and price moved in alignment during this phase, supporting the move lower. However, the final 3 hours of the session saw volume decline while price remained within a tight range, suggesting consolidation.

Forward-Looking Implications

The recent move below $0.0846 may invite further testing of the next support at $0.0839. If buyers fail to step in, a move toward $0.0835 could be in play. Traders should remain cautious of bearish continuation patterns and monitor volume behavior for confirmation of any short-term bounce.