Hyperliquid Trader Makes Huge Profit on INIT Token’s 30% Pumps
Trader's Profit on INIT Token: A trader on Hyperliquid made a significant profit of over $654k after opening a long position on the newly launched INIT token, which surged more than 30% in value within 24 hours of its trading debut.
Concerns Over Insider Trading: The timing of the trader's position, just before the price increase, has raised suspicions of potential insider trading, with accusations suggesting that the trader may have connections to the Initia team.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for INIT
Technical Sentiment Analysis for Initia (INIT) As of , Initia (INIT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for INIT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, INIT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Initia (INIT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.0208 | 0.0179 | 0.0458 | 0.0845 | 0.112 | 0.151 | 0.179 |
| Fibonacci | 0.0179 | 0.0433 | 0.0591 | 0.0845 | 0.11 | 0.126 | 0.151 |
About INIT
About the author
