MYX Finance just turned heads with a sharp 10.26% single-day price burst and a 21.63% weekly rally. Thereby, breathing life into traders seeking fireworks in a sleepy market. Wondering what changed? First, MYX’s recent Chainlink integration upgrades its infrastructure, making it far more attractive and usable. Second, technical traders noticed a solid breakout.
And third, speculative bets are back in play, hinting that market sentiment wants more action. Still, a shadow looms, as MYX price is trading 80.82% below its September peak of $19.01, a clear signal that risks remain. Next up, token unlocks worth 39M could rattle bulls if sellers show up, so this surge needs strong hands to stick.
Looking at the chart, I see a powerful technical picture emerging for MYX Finance. The price pushed back above the 7-day SMA at $2.31, then broke through the $2.47 pivot. Not only that, the MACD histogram ticked positive at +0.21. The RSI currently reads 55.36, balancing optimism but staying safely out of overbought territory.
Successively, the price structure is even more convincing. MYX crossed the key Fibonacci 50% retracement level at $2.96 on November 11, turning this into a battleground for bulls versus bears. Now, trapped shorts likely cluster around $3.24, and if buyers keep pushing, a squeeze could unfold. If MYX price closes above $2.96, a run toward $3.60 looks possible within days, potentially by mid-November if momentum stays.
How bullish does this look? As long as the price holds $2.31 and closes above $2.96, I expect a steady climb with pullbacks staying shallow. If momentum wanes and sellers take control, especially after a failed $2.96 test, we could revisit $2.25 support quickly. In that scenario, a drop below $2.25 might open room for a deeper correction.
Yes, MYX price regained key moving averages and pivot levels. MACD is bullish and RSI stays healthy, suggesting the uptrend remains intact, especially if $2.96 breaks soon.
Momentum looks strong. The MACD is positive, and buyers have reclaimed major resistance. As long as volume picks up and price stays above $2.47, bulls have the upper hand.
A daily close below $2.31 or a fast move under $2.25 would hint at a trend reversal. Also, watch for dropping volume and momentum loss, as these often lead to deeper corrections.
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