Will the MYX price rally continue? | Credit: Derek Fenech
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Key Takeaways
MYX surged 170% after breaking out of a long downtrend, driven by strong inflows.
Weak network activity suggests the rally is speculative and may struggle to sustain.
Holding above key support around $0.35 crucial for the MYX rally to continue.
MYX Finance (MYX) has exploded over the past 24 hours, surging 170% and pushing the token back toward its all-time high last seen in February.
The sudden rally comes as momentum builds across the altcoin market, particularly following RaveDAO’s (RAVE) sharp breakout, which has sparked speculation that MYX could be next in line.
But is this just hype-driven momentum, or the start of a sustained move? Here’s what’s driving the surge, and what could come next.
Relief Rally for MYX or Something More?
MYX has been in a prolonged downtrend, with price steadily declining as liquidity dried up and market attention shifted elsewhere.
During the previous uptrend, the MYX crypto reached an all-time high of $19.01 last September.
However, shortly after, that changed, leading the altcoin to crash as low as $0.20.
At the time of writing, the MYX price has climbed to $0.56. That is why the current rally is attracting attention.
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A pullback into that region that holds would confirm it as new support. Below that, the prior range top around $0.30 becomes the deeper invalidation range.
No Support
Despite the breakout, on-chain data shows that underlying network activity has yet to support it.
At the time of writing, the price-Daily Active Addresses (DAA) divergence remains negative throughout the move.
That means the price is rising faster than network participation, which typically signals speculation rather than organic demand.
As a result, the rally looks structurally fragile. If participation does not follow through, the move risks fading once momentum slows.
For continuation, you’d want to see DAA divergence recover toward neutral or flip positive alongside price holding above the breakout zone.
Otherwise, if this setup remains the same, MYX’s price might struggle to keep pace with RAVE’s explosive rally unless it is manipulated.
MYX Price Prediction:
On the higher timeframe, this move is coming straight off a long compression at the lows, which explains the breakout.
For context, the MYX price spent weeks flattening near the support after a sustained downtrend. That created a clear accumulation range just above $0.25.
Now, with the breakout, price is reclaiming momentum from an oversold structure, and RSI confirms that shift with a higher reading.
However, zooming out keeps things in perspective.
At press time, the MYX token price is still trading well below major Fib resistance, with 0.236 ($1.93) far above current levels.
Near term, continuation can push toward $0.70.
If momentum persists, the next macro target sits around the $1 pyschological zone, where prior structure starts to matter again.
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.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
