$MYX/USDT SHORT TRADE SETUP
$MYX is currently trading at 5.538, following a rejection at the local resistance of 5.746. Despite a recent intraday bounce of +12.88%, the overall structure remains precarious as the price struggles to maintain momentum after a sharp reversal from its daily highs. The price action on the 15m chart shows a series of lower highs, with a significant liquidity sweep observed earlier at the 5.120 level. Technical indicators suggest that the current recovery may be a "dead cat bounce," as the asset faces heavy selling pressure near the 5.640 zone. With the broader market sentiment showing signs of exhaustion and protocol revenue lagging behind valuation, a continuation of the bearish trend is highly probable.
Target Points
TP1: 5.364 (Immediate support level near recent consolidation)
TP2: 5.226 (Secondary support zone based on local pivot lows)
TP3: 5.088 (Extended target testing the major psychological floor)
Stop Loss
Set stop loss above 5.778 to protect against a breakout above the recent local peak and to manage risk during periods of high volatility.
Buy and Trade here on $MYX
