MYX Price Rebounds 85% in November Despite Deep Drawdown: Can Momentum Sustain?

The MYX price has staged an impressive 85% rebound in November, offering a glimmer of optimism after a steep collapse from its September highs. Although MYX crypto remains nearly 80% down from its peak, the ongoing recovery and strong on-chain activity have renewed investor attention, particularly as volume and user engagement remain intact.

MYX Price Recovers Strongly After Severe September-to-November Crash

After plunging from its $19.19 all-time high on September 11 to $1.74 on November 3, MYX experienced one of the sharpest corrections among major DEX tokens. The move wiped out significant market value and rattled investor confidence, as the drop followed a powerful pump that many traders viewed as excessive and potentially manipulated.

However, November brought a notable shift. The MYX price today has surged more than 35% and 85% from its monthly low, pushing past the psychological $3.00 mark. Even so, its market cap is currently around $713.71 million that reflects how far the token still stands from prior valuations.

On-Chain Strength Persists Even as MYX Price Chart Shows Heavy Damage

Interestingly, while price action deteriorated sharply over the past two months, MYX crypto’s underlying usage data remained resilient. DEX traders did not abandon the platform; instead, user numbers continued rising, demonstrating that the downturn did not meaningfully disrupt the protocol’s core traction.

Monthly trading volume and earnings for the DEX also grew, highlighting sustained utility regardless of the MYX price USD volatility. This divergence between on-chain fundamentals and market performance has become a central narrative throughout November.

TVL Declines Sharply Since September Peak but Other Metrics Hold Firm

Despite stable user activity, one metric suffered heavily: total value locked (TVL). After hitting a $57 million high in September, the TVL trend reversed, falling to $22.98 million in November. This indicates capital outflows from liquidity pools even though trading activity stayed strong which seems to be an unusual split in typical DEX behavior.

Yet, the renewed November uptrend could motivate liquidity providers to re-enter, especially if the MYX price chart continues stabilizing above key levels.

Liquidation Zones Slow the Rally, but Upside Still Appears Open

Liquidation heatmap data from the past two weeks shows MYX navigating through dense clusters of leveraged positions. These zones have caused temporary pauses in the recent rally as the price encounters pockets of resistance.

Nevertheless, with the MYX price flipping $3, the chart now shows a relatively open runway. A popular viewpoint in the market suggests that if MYX can reclaim $4, an advance toward $8 could become feasible before year-end.