MYX Finance has experienced a significant 67% drop in market value over the past week, diverging from Bitcoin’s upward trajectory. The altcoin’s RSI indicates a bearish trend, with sellers in control and no signs of a reversal in sight. Lack of bullish signals paints a bleak short-term outlook.

The negative correlation between MYX and Bitcoin at -0.32 is concerning, as MYX moves opposite to Bitcoin’s new all-time highs. Historical benefits from Bitcoin’s strength have diminished, with investors rotating capital away from MYX. Without alignment with broader market trends, MYX may face continued pressure.

MYX Finance’s price has plummeted by 37.6% in the last 24 hours, hovering at $5.16. Struggling to stay above $5.00, a breach could lead to further decline towards $3.45. A rebound scenario could see MYX rally to $7.00 and possibly surpass $8.90, signaling a recovery.

Read more at Yahoo Finance: MYX Finance Price Crashes 38% In 24 Hours After Separating From Bitcoin