Key Takeaways
MYX Finance has made rapid gains on the back of strong trading volume – traders and investors should watch the $4 and $3.3 levels for the next price trend.
MYX Finance [MYX] has managed to clear the $2.5 resistance level within a day, after a rather leisurely consolidation under the $1.3 level since late August. Imagine a tortoise suddenly turning into a hare! 🐇
The altcoin rallied a whopping 270% in a week, and the high trading volume suggests that the bulls are not just showing up for the free snacks. They’re here to stay, or at least until the next big thing comes along. 🥳
For those thinking about holding onto their MYX tokens for the long haul, a word of caution: only 20% of the total supply is currently in circulation. By March 2028, a 75% unlock will be achieved, which could lead to a significant dilution. Unless demand continues to rise, this could be a bit like trying to keep a balloon inflated while someone keeps pricking it with a pin. 🎈💔
The $4 Psychological Resistance Looms
On September 7th, MYX Finance rallied 167%, opening at $1.3, just above the 20-day moving average value. It’s like the token decided to take a sudden interest in fitness and went from couch potato to marathon runner in a single day. 🏃♂️🏃♀️
The token reached $3.49 at the day’s close and continued to climb higher at the time of writing. The RSI on the daily chart was at 84.87, which is deep within overbought territory. But let’s not get too excited; a high RSI doesn’t guarantee a price pullback. It’s like saying you can predict the weather by looking at a cat’s tail. 🐱🌧️
When MYX Finance rallied in early August, the RSI hit 90.56 on August 4th. The token then rallied an additional 300% over the next two days, with the RSI peaking at 98. So, selling just because the RSI exceeds 70 and expecting a pullback might not always be the smartest move. 🤦♂️📉
The 3-day liquidation heatmap shows some liquidity around the current market price, but these zones are nothing compared to the regions between $1.5-$2. In the next day or two, the $3.9 and $3.3 levels will be the most interesting magnetic zones. It’s like the token is playing a game of “hot and cold” with its price. 🔥❄️
A short-term range formation appears to be established over the past 12 hours of trading. If this range persists, a price dip to $3.4-$3.5 becomes more likely. A breakout past $4 would represent a bullish continuation, but let’s not get ahead of ourselves. After all, even a bull needs to catch its breath sometimes. 🐂💨
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2025-09-09 00:20