The native token of Myx Finance (MYX) has suffered dramatic losses in February, with a 66% plunge recorded between February 7 and 14. Trading below $2 at approximately $1.29, the asset’s bearish trend persists despite fleeting bullish efforts. Market data reveals increasing Open Interest during price declines, reflecting strong selling conviction. Over the last 24 hours, MYX fell 27.8% while major cryptocurrencies showed minimal movement. Technical analysis points to possible short-term volatility, with resistance expected near $1.4 and $1.5 if a rebound occurs.
Myx Finance‘s MYX token has endured a severe downturn in February, including a 66% weekly loss. Prices have since fallen below $2, with current trading around $1.29. Bulls attempted to defend a psychological support level but were quickly overrun by sellers. Rising Open Interest alongside declining prices confirmed bearish market sentiment.
Over the past day, MYX dropped 27.8% as the broader altcoin market excluding Ethereum slipped 0.5%. Bitcoin declined 1.34%, while Ethereum rose 0.63%. The pace of MYX selling and high spot volume indicate a strongly bearish trend.
A short-term bullish divergence on indicators may provide some relief for the perpetuals DEX’s native token. Any upward move could encounter resistance at $1.4 and $1.5, areas identified as supply zones. The $1 level from September 2025 is now a focal point for potential support. This follows the breach of the $5 support, which left a substantial price imbalance.
