MYX Finance (MYX) has experienced a dramatic downturn, losing over 35% of its value within the past 24 hours. The token’s price dropped below the support range between $9.40 and $8.83, according to data from TradingView, following failed attempts to regain higher levels. Experts are questioning the reasons behind this sudden shift in momentum, especially considering October’s generally bullish performance for the cryptocurrency market. The token’s current trading value stands at 5.68% with a reduced market capitalization of $1.12 billion, reflecting a 35.93% decline from its previous week’s high. A 7-day losing streak of approximately 60% further highlights the recent volatility of MYXUSD. 35% of that decline came within the past 24 hours. However, despite this severe downturn, MYX experienced a significant surge of 402.84% over the last month as per CoinMarketCap data. The token’s current price action shows a battle between buyers and sellers. The Moving Average Convergence Divergence (MACD) histogram remains in the red zone indicating bearish conditions. However, narrowing bars suggest weakening selling pressure that could pave the way for a recovery attempt. Yet, despite this, the Exponential Moving Average (EMA), with a bearish crossover, adds to caution as it points to potential further downward pressure. The 12 EMA line dipping below the 26 EMA has hindered MYX’s progress in overcoming resistance levels without strong buyer support. However, the token still possesses a chance of recovering if it reasserts dominance at its previous support level, $8.29, by generating enough momentum to break through this resistance. However, should that fail to occur, there is a possibility of MYX experiencing further declines and extending the bearish market trend.