How come it only opens a little?

$MYX 1.182. Data updated, this coin belongs to the Beast Zone.

The data is speaking:

The price has risen from 0.8 to 1.18, an increase of 47%, with MA7 at 0.9536 forming short-term support. The funding rate at 0.005% has just turned positive, shorts are no longer paying, and selling pressure has eased. 24-hour trading volume is 73.64 million, indicating sufficient activity, not a dead market.

The fundamentals are speaking:

MYX has plummeted over 80% from its peak of $6.94, with the $1 support and long-term trend line already broken. The MVRV Z-Score has reset, speculative bubbles have been cleared, but this is only a necessary condition, not a reversal signal. The platform still has 178,000 users, with revenue increasing from 61.79 million to 64.45 million, indicating the business is not dead.

The fatal issue is the token unlock pressure—circulation only accounts for 19.08% of the total supply, fully diluted valuation at $974 million, a premium of 424% over the circulating market cap. Early investors and the team are selling newly unlocked tokens, causing systematic selling pressure.

Comprehensive judgment: Slightly greater opportunity for going long, but it is like playing with fire.

Short-term technical rebound is established, funding rate turned positive, and MA7 support is present. However, there is enormous selling pressure in the medium to long term, with unlock pressure looming. Think clearly before entering, light positions are the bottom line.

Execution suggestions:
Stop-loss position: 0.95 (exit if it falls below MA7)
Entry range: 1.15-1.18
First target: 1.25
Second target: 1.35
Third target: 1.50

Poor Richard said:
"You cannot get close to the flame, and young people should not indulge in gambling."

Benjamin said:

May you—think clearly before entering, and hold your positions steady.

—Charlie Munger