$MYX 📊 MYX Finance (MYX/USDT) — Technical & On-Chain Stress Test: Dead-Cat Bounce or Bottom?
MYX/USDT is in deep capitulation after a 40–70% weekly drawdown. Price action is driven by forced deleveraging rather than organic selling, raising the key question: seller exhaustion or continuation risk?
🔍 Capitulation & On-Chain Signals
Liquidations: Over $615K in long positions wiped, confirming a long squeeze.
MVRV Z-Score: Reset from 4.73 to 2.30, moving from speculative excess toward fair value, but not a confirmed bottom.
📉 Momentum & Trend
RSI (14): 11.34, extremely oversold, signaling potential seller exhaustion but still unconfirmed.
Trend: Price remains below EMA(7) at $2.99, keeping short-term structure bearish.
MACD: No bullish crossover; momentum loss, not reversal.
🧠 Entry Conditions to Watch
RSI must reclaim above 30.
Bullish 4H candle (Hammer or Engulfing) for demand confirmation.
Support zone at $1.75–$1.80 must hold for a mean-reversion setup.
🎯 Scenarios
Above $1.75: Relief rally possible toward $2.40–$2.50.
Below $1.75: Downside price discovery, long bias invalidated.
🧾 Trade Bias
Market: High volatility
Bias: Neutral, reactive
Action: WAIT
Scalp longs only after RSI recovery and bullish 4H close
Stop-loss below $1.70
⚠️ Disclaimer: Not financial advice. Crypto markets are highly volatile. Risk management is mandatory.
#MYX #TechnicalAnalysis #TechnicalAnalysis #DeFi #RiskManagement