The price of MYX Finance (MYX) has faced significant downward pressure following a recent failed rally. After a short-term bounce to $1.81, buyer exhaustion led to a sharp sell-off, with the cryptocurrency losing the key $1 support level. Analysis indicates the bearish trend may continue, with potential for new lows toward $0.15 unless major overhead resistances near $3 and $5 are overcome.
The cryptocurrency MYX Finance experienced a sharp reversal after a brief rally. Despite a bounce that reached $1.81 and formed a local bottom at $0.80, sellers have since regained control emphatically.
On February 20, the rally peaked at $1.816 but closed the daily session far lower at $1.02. It was classic buyer exhaustion. This move hunted down imbalances and short liquidations but proved unsustainable.
Major longer-term swing resistances are noted overhead at $3 and $5. Bulls must overturn these levels to establish a sustained uptrend for the altcoin.
The loss of the psychological $1 level is a significant technical development. This level was previously tested as support in late August 2025 following a rally from $0.15 to $2.5.
Technical analysis shows no long-term support nearby now that the $1 level has been ceded. The failure to reclaim $1 as support meant that MYX could fall as far south as $0.15.
On shorter timeframes, the imbalance between $0.75 and $0.85 was a near-term target. In the short-term, a bounce to $0.80-$0.85 should be considered a selling opportunity. Overall, the long and short-term expectations remained bearish for MYX.
