MYX Finance Enters Oversold Territory as Downtrend Persists

MYX Finance has fallen into oversold territory for the first time in its trading history after weeks of intense selling. Heavy profit-taking and forced exits, set against a broader bearish crypto market, accelerated the drop. Since February 8 MYX’s correlation with Bitcoin has flipped from -0.42 to +0.47, meaning the token is increasingly tracking Bitcoin’s moves.

With Bitcoin stuck in consolidation, that alignment raises the risk of continued downside for MYX unless BTC stages a breakout. The Money Flow Index signals severe capital outflows as panic selling and leveraged liquidations added downward pressure. While oversold readings often precede short-term relief rallies, weak market sentiment could delay any accumulation.

MYX is down nearly 30% in the past 24 hours and trades at $1.50, compounding a 70% decline recorded since February 8. Technicals point to further risk — a retest of $1.22 appears plausible, while reclaiming $1.68 would be an early sign of recovery that could open a path toward $2.01.

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