Although the price has fallen sharply from recent highs, technical indicators still signal strong bearishness. The MACD death cross and the price being well below all moving averages confirm the presence of downward momentum. However, the deep oversold MFI and shrinking volume suggest that a technical rebound or short covering could occur at any time. Therefore, this short position is a chasing trade with higher risk, requiring strict stop-losses to prevent sudden reversals.
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$MYX The bearish momentum still dominates, but deep oversold conditions warrant caution.
Go short now $MYX
Entry: 3.30 – 3.38
Stop loss: 3.85
Target 1: 3.10
Target 2: 2.85
Target 3: 2.45
Although the price has fallen sharply from recent highs, technical indicators still signal strong bearishness. The MACD death cross and the price being well below all moving averages confirm the presence of downward momentum. However, the deep oversold MFI and shrinking volume suggest that a technical rebound or short covering could occur at any time. Therefore, this short position is a chasing trade with higher risk, requiring strict stop-losses to prevent sudden reversals.
Trade $MYX here 👇