MYX price rockets to $0.24 after massive breakout | Credit: Hameem Sarwar
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Key Takeaways
MYX Finance has surged 300% in 30 days, reaching a new all-time high of $0.24
The project’s weekly trading volume hit $2.45 billion with TVL above $25 million.
The price broke out of a symmetrical triangle, confirming strong buyer control.
MYX, the native token of non-custodial derivatives exchange MYX Finance, has blasted to a new all-time high. Over the past 30 days, the MYX Finance price has surged 300%, capping off the move with a 90% gain in the last 24 hours.
Now trading at $0.24, MYX is flashing strong momentum. But the question remains—will this uptrend continue, or is a correction looming?
This analysis looks at the possibility.
MYX Breaks Out of Symmetrical Triangle
On the 4-hour chart, MYX price climbed to $0.23 after breaking out of a symmetrical triangle — a pattern that signals a notable move following a period of price consolidation.
The breakout confirmed bullish control, with momentum accelerating as buyers piled in. A closer look at the same chart shows that the Bull Bear Power (BBP) has continually hit higher readings, indicating that buying pressure is dominant.
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Due to this buying pressure, the MYX Finance price held support at $0.097 while breaking resistance at $0.16. Besides the bullish dominance, the Chaikin Money Flow (CMF) also reveals why MYX reached a new all-time high.
Two months ago, the token was at an all-time low. During that period, the CMF reading was below the zero signal line.
Today, the CMF has risen to 0.44, indicating that accumulation has outpaced distribution. If sustained, the MYX Finance price will likely trade higher if sellers do not take over.
Furthermore, the trading volume also contributed to the milestone. At press time, MYX’s volume over the last 24 hours is $36.32 million, representing a 623% increase.
But the cumulative trading volume has hit $2.45 billion over the past week. From a trading perspective, the rise in volume alongside increasing price is bullish.
The number of token transactions also hit 6,728, while the Total Value Locked (TVL) surpassed $25 million, indicating rising demand for the cryptocurrency.
Hence, if MYX’s market value continues to climb and the volume does the same, the altcoin could rally above $0.30 soon.
MYX Price Prediction: Higher
The daily chart shows a similar setup regarding the short-term outlook. As seen below, MYX has printed two bullish engulfing candles.
Beyond that, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover.
This crossover indicates bullish momentum and reinforces the positive outlook around the token.
If this remains the same, MYX might not undergo a correction yet. Instead, the cryptocurrency’s market value might rise to a new all-time high of $0.36.
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.
