MYX Life and Death Bureau, will the volume and news trigger an explosive countdown for a trend reversal?
Today's $MYX trend shows a flat oscillation, with neither bulls nor bears having a clear direction. The short-term trend is stuck in the 1.08-1.10 small range, grinding slowly. The upper side faces the previous crash resistance at 1.2, which cannot resolve immediate needs, while the lower side's previous low at 0.93, although distant, still carries a risk of breaking in a low-volume state.
From a technical perspective, the MACD bears still hold the advantage, but the green bars are weak like toothpicks. The RSI is stagnating in the 40-50 range, and the volume has been directly halved to 2.28 million, with the market collectively playing dead and observing.
Current direction entirely depends on the news sentiment. Positive news or stimuli may push the volume to challenge the 1.10-1.12 resistance area, but sustained volume is needed to stabilize; negative news could break the 1.08 support, heading straight for the psychological level of 1.0 or even the previous low of 0.93.
In terms of operations, I personally suggest holding back, testing with light positions, and closely monitoring the two critical points of 1.08 and 1.10. If 1.08 holds + volume increases + MACD green bars extend, a small position can be used to bet on a rebound. If 1.10 cannot break or volume drops below 1.08, then it’s time to run.
In summary, this is a phase of waiting for the wind to come. Forcing long or short positions can easily backfire, so stay steady and don't act recklessly! Are you trapped? When to bottom-fish? It's still that saying, feeling lost and helpless and not knowing what to do, click on my profile picture and follow me. I need fans, and you need references; blind guessing is not as good as following!
