Heavy selling pressure sends MYX down 10.75% on the day

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MYX drops 10.75% today to $0.0896

Highlights

MYX/USD trades decisively below short-, medium-, and long-term moving averages, indicating strong bearish momentum across timeframes.
Bearish technical signals dominate, with strong sell indications from MACD and oscillators, while buyers show only brief intraday presence.
Trading range for the next 2–3 days is expected between $0.0779 and $0.1009, with a 67% likelihood of further downside if support breaks.

Downside momentum persists as technical signals remain bearish

On the hourly chart, the price is positioned below the MA-20 at $0.0914 and MA-50 at $0.0941, with the longer-term MA-200 at a distant $1.7316. The Ichimoku Kijun stands at $0.0963, currently acting as immediate resistance. Momentum signals remain weak, with the Moving Average Convergence Divergence (MACD) indicating a strong sell and the Average Directional Index (ADX) pointing to a neutral trend. Oscillators reveal broad downside pressure: the Relative Strength Index (RSI) flashes a sell, the Stochastic RSI gives a strong sell signal, and the Commodity Channel Index (CCI) is neutral. Bull/Bear Power suggests some intraday buyer activity, while the Awesome Oscillator is neutral, highlighting mixed short-term participation and persistent volatility.

Downside risk dominates as volatility band defines outlook

Over the next two to three trading days, MYX is expected to fluctuate within a volatility band ranging from $0.0779 to $0.1009. Current conditions imply a 67% probability of further downside and a 33% likelihood of an upward move. If the price consolidates rather than trends, rangebound movement is likely to dominate. Breaking above the Ichimoku Kijun resistance could signal recovery, while a breach of $0.0779 would open the way for a fresh low.

Anton Kharitonov, expert at Traders Union, sees technical conditions for MYX as weak with downside risks prevailing. He notes that persistent selling pressure and bearish signals from momentum indicators limit immediate recovery prospects. The analyst remains cautious while price holds below the key MA levels and Ichimoku Kijun. "Until MYX reclaims $0.0963, I prefer to stay defensive and avoid aggressive positioning."

Earlier, analysts noted that MYX was showing signs of buyer momentum and the potential for a bullish reversal amid previously balanced breakout and correction risks. The recent deterioration in technical conditions now signals an increased probability of further downside, making the $0.0779 support level a crucial point to monitor for potential volatility or trend shifts in the coming sessions.

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.