⚠️ MYX CRITICAL UPDATE: The Pullback Begins! RSI Still 97? 📉🚨
MYX has started to cool down, dropping from the $7.34 peak to trade around $6.29 (+57%). Is this a dip to buy, or the start of a crash?
Technical Reality Check:
Extreme Danger Signal: Despite the small drop, the Daily RSI(6) is still sitting at a massive 97.17. In crypto, sustaining this level is nearly impossible without a major correction.
The "Air Gap": The price is floating far above the Daily EMA(34) support at $3.63. This huge gap often acts like a magnet, pulling the price back down to equilibrium.
Short-Term Relief: On the 4H chart, the RSI has cooled to 67.80, showing the initial buying frenzy is fading.
Key Levels to Watch:
Support 🛡️: The first real safety net is the 4H EMA(34) at $4.42.
Resistance 🧱: Bulls must reclaim $7.00 to invalidate the bearish divergence.
My Strategy: DO NOT chase this candle. The risk/reward here is poor. Smart money waits for a retest of $4.50.
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