$MYX : The Post-Drop Reality Check
$MYX completely collapsed after its sharp initial rise, falling from an intraday high of 18.6 to just 0.81. The price has since been flat for a prolonged period, showing:
No volume
No clear trend
No strength
This isn't a typical consolidation zone; it's a "waiting zone." The market is digesting the massive drop and participants are in a wait-and-see position.
What's Needed for an Upward Move?
For any sustained upward movement, we need two key signals:
Volume: Increased trading volume is required as confirmation.
Breakout: A decisive break through existing resistance levels would signal market intention.
The Big Question
Right now, the only thing visible is a prolonged period of indecision and consolidation.
❓ Is this the bottom, or just a pause before another move?
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