MYX Falls Below $5 as Short Sellers Take Control — 42% Decline Risk Emerges

MYX Finance price has sharply declined, breaking below the critical $5.00 level, signaling a bearish shift as selling pressure accelerates. The futures market shows dominance by short contracts, reflected in negative funding rates, indicating strong bearish conviction among traders anticipating further drops. Technical analysis, supported by the Money Flow Index (MFI) showing sustained capital outflows, reinforces this downward momentum. The price action suggests a breakdown from a bearish ascending wedge pattern, projecting a potential 43% decline toward $2.81, though a more immediate target is near the $4.07 support zone. A decisive break below $4.61 would increase downside risk, while stabilization would require a move above the $5.75 resistance level.

(Source：BeInCrypto)