Heavy selling pressure across all timeframes

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MYX drops 29.43% today to $0.3298

Highlights

MYX is experiencing sustained downward pressure, trading well below key moving averages across all timeframes.
Momentum and trend indicators such as MACD, ADX, and CCI remain firmly bearish, with RSI showing oversold conditions.
Baseline expectation is consolidation between $0.26 and $0.40 with a less than 20% chance of short-term price recovery.

Persistent bearish momentum amid oversold signals and volatility spike

The current price of MYX at $0.3298 is trading below all key moving averages on the daily chart, specifically under the MA-20 ($0.3560), MA-50 ($2.5877), and MA-200 ($4.3448), signaling sustained selling pressure across short, medium, and long-term trends. The Ichimoku Kijun is set at $1.0460, highlighting immediate resistance well above the current price.

Momentum signals remain negative, with D1 MACD at "Strong Sell" and ADX confirming a selling trend, whereas the RSI registers at 27.95, flagging oversold conditions. Stoch RSI is at its peak, yet lower timeframes, as well as D1 and W1 CCI, show persistent oversold readings, hinting at exhaustion among sellers. BBP's slight positive read suggests intermittent buyer interest, yet the dominant intraday bias aligns with sellers. The Awesome Oscillator is neutral and does not reinforce the prevailing trend. The session opened below the previous close ($0.4142 vs. $0.4674), creating a moderate gap down and finishing near the session low within a wide intraday range, indicating high volatility and heavy pressure after the open. The overall intraday dynamic and daily momentum are firmly bearish, with oversold readings somewhat diverging from the persistent downward move.

Bearish continuation expected as upside risk remains limited

Looking ahead, the expected weekly range for MYX is projected between $0.26 and $0.40, adjusted for a volatility band relative to current levels. There is a very low probability (less than 20%) of a price increase over the next five trading days, making a further decline the more likely outcome. The baseline scenario expects price action to remain sideways between $0.26 and $0.40 as markets consolidate. In a bullish scenario, MYX could break above immediate resistance at $1.0460, but this is unlikely given current momentum. The bearish scenario involves the price breaking below $0.26, extending the downtrend in line with the present technical environment.

Anton Kharitonov, expert at Traders Union, sees clear technical weakness in MYX. The asset trades below all key moving averages and fails to show signs of reversal. Momentum remains negative, and oversold signals have yet to trigger a bounce. "I remain defensive here — unless MYX reclaims at least $1.0460, the trend favors further downside or sideways consolidation."

Earlier, analysts noted that MYX Finance was exhibiting firm downward momentum against a backdrop of persistent weakness, warranting caution from traders. The latest technical developments not only reinforce this bearish outlook but highlight an increased risk of a sharp drop below the $0.26 support level if the current downtrend persists.

Source of Data: MYX Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.