Myx Finance (MYX) Hits 20-Day Resistance — Breakout Could Lead Price to New All-Time High

Myx Finance (MYX) increased by over 1,500% in September, hitting a new all-time high of $18.65.

While the price took a breather afterward, it began another rally on Sept. 21, knocking on the door to a new all-time high.

Let’s look at the charts and see what lies ahead in October.

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MYX Price Analysis

The MYX price has fallen under a diagonal resistance trend line since its all-time high of $18.58 on Sept. 9.

The MYX decline lasted for 11 days, amounting to a 57% drop since the high.

MYX Finance reversed its trend on Sept. 22 and has bounced considerably since, reaching today’s resistance trend line.

The resistance has existed for 20 days, so a breakout above it could lead to a new all-time high price.

Momentum indicators have turned bullish, supporting the breakout. The Relative Strength Index (RSI) broke out from a diagonal resistance, and the Moving Average Convergence/Divergence (MACD) made a bullish cross.

So, the daily time frame technical analysis gives a bullish MYX prediction, suggesting the price will break out to new highs.

New MYX All-Time High

Adding to the price action, the wave count suggests that the MYX trend is bullish and a breakout is imminent.

According to the count, MYX is in the fifth and final wave of the upward movement that started on Aug. 21.

Wave four ended on Sept. 21, and a breakout from the diagonal resistance will confirm that MYX Finance has started its final upward movement.

If this is the correct count, MYX will reach a new all-time high of $25.21, hitting the 1.61 external Fibonacci retracement of the decline.

Breakout Incoming

About the Author

Valdrin Tahiri

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.

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