Sharp downside volatility sends MYX lower in heavy selling session

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MYX slides 13.5% today to $0.0883

Highlights

MYX/USD remains under sustained bearish pressure, trading below key moving averages across all time frames.
Momentum indicators such as MACD and ADX confirm a strong sell bias, though some oscillators show overbought readings, creating short-term divergence.
The price is expected to stay within $0.0706–$0.106 for the next 2–3 days with a 79% probability of a further decline.

Sell signals persist as resistance strengthens and indicators diverge

On the hourly chart, MYX is positioned below the MA-20 at $0.0907, MA-50 at $0.098, and the long-term MA-200 at $1.818. The Ichimoku Kijun at $0.0933 serves as immediate resistance. Moving Average Convergence Divergence (MACD) maintains a strong sell signal while the Average Directional Index (ADX) shows a persistent sell bias. The Relative Strength Index (RSI) reads 40, maintaining selling pressure, while the Stochastic RSI is overbought and the Commodity Channel Index (CCI) is neutral, suggesting some oscillator divergence. Bull/Bear Power (BBP) favors seller dominance intraday, and the Awesome Oscillator is neutral, offering little confirmation for the prevailing trend. Price remains mid-range within heightened volatility following a sharp downside gap.

Volatility to dominate as range-bound scenario takes shape

In the near term, MYX is expected to remain volatile with a forecast range of $0.0706–$0.106 over the next two to three trading days. The most probable scenario is for price action to stay bounded within this corridor. Should bullish momentum materialize, a move above $0.0933 resistance could open a challenge toward the upper boundary of the projected range. Conversely, renewed selling that breaks immediate support would likely drive the price toward the lower end of the forecast band.

Viktoras Karapetjanc, expert at Traders Union, sees MYX trading under pressure after the recent sharp drop. Karapetjanc notes persistent selling bias with indicators like the MACD and ADX confirming bearish conditions, yet the asset remains rangebound. He acknowledges the potential for volatility to drive price toward either end of the $0.0706–$0.106 forecast band over the next few sessions. "A decisive move above $0.0933 could attract demand, but until then, I remain constructive and patient within the projected range," he says.

Earlier, analysts noted that MYX was under sustained bearish pressure, with technical indicators reflecting ongoing seller dominance. The current session reinforces this outlook with continued weakness, and traders should monitor for a decisive move above immediate resistance, as this would be the first signal of any potential shift in momentum.

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.