Technicals first: MYX walked up to that giant spiral on the chart, knocked politely… and immediately got rejected. Zero breakout energy. That’s usually the market’s way of saying “nice pump, now get back down there.”
With momentum dead, a slide to the $0.90 support looks likely — that’s about a 67% haircut from current levels.
Fundamentals? Oh boy.
FDV sitting at ~$2.79B while the protocol’s TVL chills around $30M.
That’s a ~90× MC/TVL ratio, which in crypto is basically a neon sign flashing: “Speculation Only Zone.”
Usage isn’t growing anywhere near fast enough to justify the sticker price; it’s all vibes and no volume.
Bottom line: The chart rejected, the fundamentals don’t back the hype, and if gravity kicks in, MYX returning to ~$0.90 isn’t just possible — it’s the sober scenario after the party.
With momentum dead, a slide to the $0.90 support looks likely — that’s about a 67% haircut from current levels.
Fundamentals? Oh boy.
FDV sitting at ~$2.79B while the protocol’s TVL chills around $30M.
That’s a ~90× MC/TVL ratio, which in crypto is basically a neon sign flashing: “Speculation Only Zone.”
Usage isn’t growing anywhere near fast enough to justify the sticker price; it’s all vibes and no volume.
Bottom line: The chart rejected, the fundamentals don’t back the hype, and if gravity kicks in, MYX returning to ~$0.90 isn’t just possible — it’s the sober scenario after the party.
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