$MYX Short Opportunity: Market Overextension? (Short)
The MYX chart is showing an aggressive vertical move, up nearly 78% in the last 24 hours. While the momentum is currently high, technical indicators suggest a pullback might be imminent as the price nears psychological resistance.
📉 Signal: MYX / USDT (Short)
Entry Zone: $1.74 – $1.84 (Current Resistance)
Take Profit 1: $1.36 (Near R1 Support)
Take Profit 2: $1.25 (S1 Support)
Stop Loss: Above $1.89 (Local High Breakout)
🔍 Trading Logic
Overbought RSI: The 15m and 1h charts show RSI levels reaching extreme zones, often a precursor to a "cool-off".
Resistance Test: MYX is testing the $1.84 level, which has historically acted as a supply zone.
Selling Pressure: Recent on-chain data and market sentiment reports indicate that MYX may face distribution as early buyers take profits following this massive surge.
