That 1.82 → 1.05 drop was a heavy blow, and your observation that this feels like "consolidation rather than a confirmed reversal" is spot on. While the $1.13–$1.14 level is holding for now, the technicals and fundamentals are currently locked in a tug-of-war.
Here is a breakdown of the current bias:
📉 The Bearish Case (Short-Term Trend)
The "lower high, lower low" structure is the dominant force here. Despite the slight MACD curl, the overall momentum remains heavy:
* The Trap: Short-term bounces after a 40%+ drop often act as "dead cat bounces" to lure in late longs before another leg down.
* Funding & Sentiment: Recent reports show $MYX has faced aggressive de-leveraging. If the broader market stays shaky, $1.05 might not just be support—it could become a magnet.
* Resistance: You correctly identified $1.18–$1.20 as the "line in the sand." Until that EMA zone is flipped into support, any move upward is technically just a retracement of a crash.
🚀 The Bullish Reversal Case (Fundamental Catalyst)
There is a significant reason for the recent buying interest near $1.05:
* Consensys Strategic Funding: News just broke that Consensys (the team behind MetaMask) led a strategic funding round for MYX. This is massive for credibility and often acts as a "floor" for price discovery during crashes.
* Oversold Conditions: On higher timeframes (like the 4H), RSI has dipped into extreme oversold territory. This usually precedes a sharp "relief rally," regardless of the trend.
