MYX Finance has experienced a dramatic downturn, dropping by 42%. The cryptocurrency’s price closed at $8.65 after opening at $15.66 earlier today. Despite the market recovery, MYX suffered significant losses as trading volume surged over 62%, reaching $307.99 million. The asset experienced a sharp sell-off, with over $2.98 million worth of tokens liquidated. This price drop has raised concerns about the token’s future trajectory. Analyzing technical indicators, the asset appears to be in a downward trend marked by bearish signals like red candles on the chart and a negative MACD line. This suggests a potential downtrend, with crucial support below $8.90 being targeted. The relative strength index (RSI) at 29.54 reveals that MYX is currently oversold, potentially signaling an opportunity for buyers to re-enter the market.