Headline: MYX retests $0.80 — can bulls stop the slide or are new lows coming? MYX Finance (MYX) has been under pressure after forming a local low at $0.80, and recent price action suggests the path of least resistance remains to the downside. What happened - A short-term bullish divergence earlier sparked a bounce that AMBCrypto expected to reach roughly $1.50. Buyers pushed that move even further, briefly taking MYX to $1.81 on Friday, February 20. That spike, however, quickly faded — the daily candle closed around $1.02, signaling classic buyer exhaustion. - The $0.80 area established as a local bottom was retested in recent trading and held as support for now, but selling pressure has reasserted itself since the failed rally. - AMBCrypto highlighted $3 and $5 as the major longer-term swing resistances MYX needs to reclaim to confirm a sustained uptrend. At present, the market looks more likely to test lower floors than to retake those overhead supply zones. Technical picture - Daily timeframe: The rally to $1.816 was short-lived and accompanied by a high-volume spike that likely chased imbalances and forced short-covering — a move that can produce transient rallies but not durable trend changes without follow-through. - Momentum and volume cues have flipped bearish: On-chain/market-volume sentiment (as seen via OBV) was making new lows, and the MACD has produced another bearish crossover. - Intraday (1-hour): A clear imbalance sits between $0.75–$0.85 — this zone looks like a near-term target for sellers and could present a bounce/sell opportunity if prices reach it. Bigger-picture support risk - Looking back, MYX staged a rapid rally from about $0.15 to $2.50 in August 2025 before pulling back toward the psychological $1 support. With that $1 area now ceded, there are few nearby structural supports — meaning a move toward much lower levels (technically as low as $0.15) is possible if selling accelerates. Key levels to watch - Immediate support: $0.80 (recent local bottom) - Near-term target/imbalance zone: $0.75–$0.85 - Short-term resistance: ~$1.50–$1.81 (recent highs) - Major trend resistances to flip bullish: $3 and $5 - Risk scenario: potential revisit of $0.15 if broader support fails Bottom line Short-term indicators and price structure favor sellers. While short squeezes and bullish divergences can produce sharp rebounds, MYX needs to reclaim higher swing levels — especially the $3–$5 range — to convincingly turn the trend upward. For now, technicals point toward renewed downside risk and the possibility of testing much lower supports. Source: MYX/USDT on TradingView. Article based on reporting by AMBCrypto. Disclaimer: This article is informational and represents the writer’s opinion. It is not financial, investment, trading, or other advice. Cryptocurrency trading carries high risk; do your own research before making any decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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