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.
MYX Price Action
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.
FAQs
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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