Recently, the MYX price has taken the spotlight in the crypto market. After a strong pump in early September, it again recorded a remarkable surge of nearly 190% in a single day and 1700% on the weekly scale.
At the time of writing, it is trading now above $17.38, MYX crypto has rapidly climbed into the top 100 altcoins, which no expert imagined such a parabolic move would be a rare sight. The growth was directly linked with its bullish momentum fueled by listings, demand, and speculation.
The MYX price today reflects an extraordinary run, amplified by major listings and increased liquidity.
Similarly, this parabolic rally is possible from a series of bullish factors. These includes the early September WLFI token listing on the MYX exchange and debate around the unlocking of nearly 39 million MYX tokens.
However, the earlier sparked debate over a potential correction when the token traded below $10 has now been delayed, with strong demand observed on the daily chart.
However, the persistent buying momentum and FOMO defied expectations, driving MYX price toward the $20 level, and, most recently, the addition of MYX to the GATE exchange on September 9 elevated the bullish sentiment. These developments have attracted strong speculative inflows, as the MYX price chart continues to trend steeply upward.
In parallel with its spot gains, the derivatives market for MYX crypto has exploded. Open interest has surged to record highs, and liquidation data reveal that a massive wave of short positions was wiped out, further accelerating the MYX price USD breakout.
Derivatives volumes show aggressive participation from leveraged traders, intensifying the bullish narrative even as technicals signal caution.
While bullish narratives dominate, indicators like the RSI suggest overheated conditions, raising questions about the sustainability of such rapid gains and shaping short-term MYX price forecast discussions.
Amid the parabolic advance, MYX crypto has established key technical support zones, which may serve as potential resting points if momentum fades. The liquidation heatmap highlights $7.74, $11.85, $14.14, and $16.08 as crucial levels to watch. These supports could help stabilize the MYX price should speculative demand temporarily cool.
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