Market Overview for Initia/Tether (INITUSDT) on 2026-01-17

Summary
• Price surged from $0.0919 to $0.0965, with consolidation toward $0.095–$0.0955 in the last 12 hours.
• Volume spiked at 18:30–19:30 ET, confirming bullish momentum and a 24-hour high at $0.0965.
• RSI overbought above 70 at peak, suggesting potential pullback toward $0.0952 support.
• Bollinger Bands show moderate volatility with price near the upper band at the peak.
• A bullish engulfing pattern formed at $0.0948–$0.0954 after early consolidation.

Initia/Tether (INITUSDT) opened at $0.0926 on 2026-01-16 at 12:00 ET, surged to a high of $0.0965, and closed the 24-hour period at $0.095. The pair traded between $0.0919 and $0.0965, with a 24-hour volume of 2.34 million and a notional turnover of $220,040.

Structure and Candlestick Patterns

The price action shows a strong bullish bias from early afternoon to late evening ET, marked by a high-volume bullish engulfing pattern between $0.0948 and $0.0954. A key resistance appears at $0.0962, where price stalled briefly, while $0.0950–$0.0955 seems to act as a short-term consolidation range. Notable support is emerging near $0.0945–$0.0948, where price corrected slightly overnight.

Trend and Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages show a positive crossover after the 18:30 ET breakout, reinforcing the bullish momentum. The daily chart remains within a broader uptrend, with the 50-day SMA at $0.0940 providing a longer-term support reference.

Momentum and Volatility

The RSI surged above 70 during the peak, signaling overbought conditions and potential for a short-term correction. MACD showed a strong positive crossover early in the session, with the histogram expanding during the key 18:30–19:45 ET rally. Bollinger Bands widened as volatility increased, with price peaking near the upper band and retreating toward the midline in the overnight hours.

Volume and Turnover

Volume was uneven, peaking at 863,452.8 at 18:30 ET and again at 255,033.3 at 19:45 ET, both times confirming price highs. Notional turnover was broadly aligned with volume, showing no significant divergence. Overnight volume eased, suggesting a temporary pause in aggressive buying.

Fibonacci Retracements

Fibonacci retracement levels from the key $0.0919–$0.0965 swing highlight $0.0952 (38.2%) and $0.0948 (61.8%) as critical support zones. A break below $0.0945 would trigger a test of the 78.6% level at $0.0939. On the upside, a breakout above $0.0962 could target $0.0968 (extension level).

In the next 24 hours, Initia/Tether appears to be consolidating near $0.095–$0.0955 after a sharp rally. A retest of $0.0962 could offer a key breakout opportunity, but investors should watch for a pullback toward $0.0952–$0.0948 as potential entry zones. A breakdown below $0.0945 may signal a retest of earlier support levels and caution is warranted.