MYX Crashes 95% in a Month as Sellers Stay in Control—Can Whales Stop the Bleed?
MYX Finance has plummeted 95% in a month due to sustained selling pressure, despite minor accumulation by large investors.Summary
MYX Finance has experienced a severe 95% price crash over the last month, signaling a significant lack of investor confidence. Technical indicators like the Chaikin Money Flow (CMF) remain deeply negative, confirming consistent fund outflows and dominant bearish sentiment. Furthermore, the futures market shows bearish traders are positioned for further declines, with $2.6 million in liquidations set if the price drops below $0.45, reinforcing the downward pressure.
Despite this negative momentum, MYX whales (holders with over $1 million) have increased their holdings by 24%. However, this accumulation has not been sufficient to reverse the broader bearish trajectory.
Currently trading at $0.300, MYX faces potential further declines toward support levels at $0.209, $0.138, or $0.091 if selling pressure continues. A significant rebound would require a major positive catalyst or a broader market shift, potentially starting with flipping the $0.399 resistance level.
(Source：BeInCrypto)