MYX/USDT Analysis – Sharp Correction After Massive Rally
MYX has faced a sharp correction, currently trading at 1.517, down -7.84% on the 4-hour chart. After a strong parabolic rally that pushed the price up to nearly 2.27, the token is now experiencing a healthy pullback and consolidation.
The price remains well above all key EMAs:
EMA(34): 1.06
EMA(89): 0.58
EMA(146): 0.42
EMA(200): 0.34
This shows that the broader trend is still bullish, but short-term momentum is slowing. The MACD is beginning to flatten out with a negative crossover just forming, and red histogram bars are appearing, signaling potential bearish momentum building up. The RSI(6) is neutral at 49.59, indicating neither overbought nor oversold conditions — a sign that the market is indecisive at this level.
Volume has declined compared to the peak, showing reduced buyer enthusiasm. If MYX can hold above the 1.50 support, it may consolidate before the next move. However, a break below could lead to a deeper correction toward the 1.30–1.40 zone.
Caution is advised in the short term, but bulls may still look for re-entry opportunities if signs of reversal appear.