Although the MACD shows a bullish crossover, the extremely shrinking trading volume makes the rebound hesitant. The price is still being suppressed by all key moving averages, and the market structure remains bearish. Any attempt to recover upward faces heavy selling pressure, which usually indicates that sellers are consolidating and preparing for the next downward attack.
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The rebound of $MYX looks weak, and sellers could take control at any time.
Rebound Short $MYX
Entry: 3.15 – 3.30
Stop Loss: 3.38
First Target: 2.85
Second Target: 2.65
Third Target: 2.40
Although the MACD shows a bullish crossover, the extremely shrinking trading volume makes the rebound hesitant. The price is still being suppressed by all key moving averages, and the market structure remains bearish. Any attempt to recover upward faces heavy selling pressure, which usually indicates that sellers are consolidating and preparing for the next downward attack.
Trade $MYX 👇 here