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Short signal on MYX – 4h timeframe.
Price is in a clear downtrend, trading (below) all moving averages (MA5 0.2111, MA10 0.2191, MA30 0.2294 and all EMAs are above price and sloping down). MACD is negative (-0.0022) with histogram below zero. Recent candles show strong rejection at 0.225–0.23 resistance with long upper wicks. Volume is supporting the downside moves. Supertrend is red. Fibonacci retracement of the big drop from 0.3703 shows price is breaking the 0.382 level downward — continuation signal. RSI is likely oversold but momentum remains bearish.
Entry zone: 0.208 – 0.212 (sell here or on any tiny bounce toward the MA5)
Stop loss: 0.225 (above the recent swing high and the yellow MA line — if broken, the short is invalid)
Take profits:
TP1: 0.198
today’s low + quick 5% move (first support)
TP2: 0.189
previous major swing low and strong Fib support
TP3: 0.170
deeper 0.786 Fib retracement and round psychological level
#GateSquareAprilPostingChallenge
$MYX