MYX/USDT:USDT
MYX is showing extreme exhaustion following a 33.4% crash. The RSI has plummeted to 25.5, which is deep in the oversold territory for a 1h timeframe. Usually, such vertical drops in active pairs lead to a 'mean reversion' bounce as sellers take profit and bottom-fishers enter. The absence of extreme negative funding suggests the move was driven by spot selling or long liquidations rather than aggressive new shorting, meaning a technical relief rally is highly probable once the selling pressure dissipates.
Detailed Analysis
24h change of -33.41% with RSI at an extreme low of 25.5.
The asset is statistically overextended to the downside and searching for a local bottom.
A technical bounce (relief rally) towards the $0.45-$0.48 range.
Further consolidation below $0.40 without any signs of buying volume.