$MYX
Fade Alert: Chasing the Top? The Euphoria is Over! ⚠️
$MYX has just pulled off a massive +60% rally, but the technicals are now screaming exhaustion. When a parabolic move fails to hold the 7-EMA after such an extension, the probability of a sharp mean-reversion increases significantly.
We are fading the hype and looking for a trip back to the ground. 📉
📉 The Short Setup:
Entry Zone: $1.33 – $1.40
Targets (TP): $1.24 — $1.12 — $0.98 (Sub-$1 Liquidity)
Stop Loss (SL): $1.48 (Keep it tight above the spike)
🔍 Why We Are Fading:
EMA Breakdown: Price is struggling to stay above the 7-EMA after being severely overextended from the $0.83 base.
Slowing Momentum: While MACD remains positive, it is clearly losing steam. RSI at 59 suggests the breakout strength has peaked and is rolling over.
Volume Climax: The recent volume spike typical of a "buying climax" suggests whales are likely distributing to late retail buyers.
Key Support Breach: If the 30-EMA ($1.15) cracks, expect a rapid acceleration toward sub-$1 levels as momentum shifts.
Risk Management is non-negotiable here. Don’t get caught in the squeeze—stick to the SL. 🫡
Nabiha Noor
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