Will MYX Hit a New All-Time High? | Credit: Derek Fenech
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Key Takeaways
Myx Finance (MYX) is very close to its all-time high price.
The price broke out from a diagonal resistance trend line.
Can MYX sustain its momentum and hit a new all-time high?
MYX Finance (MYX) broke out from a diagonal resistance today—the same setup that has sparked rallies of more than 1,000% twice this year.
Each time, the move propelled MYX to fresh all-time highs. Now, with the token trading just 15% below its peak, traders are watching closely to see if history will repeat itself.
Momentum is building, and the market is eyeing whether MYX can make another decisive push toward new highs.
MYX Price Analysis
This year, the MYX Finance price has experienced two periods of considerable increases, one in August and the other in September.
Both rallies began after the price broke out from diagonal resistances, leading to upward movements of 2,100% and 1,300% respectively.
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The bearish divergence in the Relative Strength Index (RSI) is the most worrisome, which could be confirmed if the price makes a higher high.
Nevertheless, the MYX Finance price prediction remains bullish because of the resistance trend line breakout, which has led to significant rallies in the past.
Why is MYX Finance Going Up?
The wave count confirms that the MYX trend is bullish and new highs are likely.
According to the wave count, MYX has completed wave four in a five-wave upward movement that began in August.
Wave four developed as a descending wedge, which is a bullish pattern. The wedge breakout confirmed the beginning of wave five.
The first target for a top is at $24.71, created by the 1.61 external Fibonacci retracement of the drop.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
