$MYX Finance rally takes a breather
MYX Finance trades above $16, retracing nearly 6% at press time on Thursday following the 52% gains from the previous day. The intraday pullback reflects a reversal from an area close to the all-time high of $19.00 on the 4-hour chart.
If the pullback intensifies, MYX could test the 50-period Exponential Moving Average (EMA) at $12.48, followed by the $9.83 support level marked on Monday.
The momentum indicators on the 4-hour chart indicate a cooldown in the uptrend as the Relative Strength Index (RSI) curves down from the overbought zone to 62, with further space on the downside before reaching the halfway line. Additionally, the Moving Average Convergence Divergence (MACD) and its signal line maintain a steady rise, but the decline in green histogram bars suggests lowered bullish momentum.
Looking up, if MYX crosses above the $19.00 peak, it could extend the rally to the R2 pivot level at $26.72 @MYX Finance
