MYX surged to the 5.346 level, but then trading volume suddenly shrank. This signal is quite interesting. You see, the previous rapid rally was indeed fierce, but there was no new buying interest to follow up, indicating that the bulls are clearly losing momentum.



From a technical perspective, the short-term candlestick is under pressure at high levels, and the MACD red histogram is shrinking, all pointing in one direction—upward momentum is waning. The active buy orders on the order book are also decreasing, and the enthusiasm for chasing higher has noticeably cooled down.

In this situation, it might be considered to go short, with a stop-loss placed at the key level of 5.4. If things go smoothly, the target could be set around the support zone near 4.8. When volume dries up, this kind of energy often triggers a significant pullback. If managed well, there are still opportunities.
MYX-5,31%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
DefiOldTrickstervip
· 01-05 08:02
Ha, it's the same old story of exhausted momentum. I'm tired of it since 2017. Cutting losses at 5.4? That's too safe. The real arbitrage opportunity is at the 4.2 level. Do you dare to bet?
View OriginalReply0
probably_nothing_anonvip
· 01-03 09:56
The pattern of shrinking volume and breaking through is old; it gets cut every time.
View OriginalReply0
gas_fee_therapistvip
· 01-03 09:52
The decline continues, and you're still chasing the highs? I think it's risky.
View OriginalReply0
HashRatePhilosophervip
· 01-03 09:44
I'm tired of hearing the phrase "shrinking volume," every time they say there's a chance, but what is the result?
View OriginalReply0
PensionDestroyervip
· 01-03 09:41
Price increases despite shrinking volume is a trap; this wave is probably going to plunge.
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)