MYX Finance Experiences a 40% Surge but Faces a Cooling Off Period

MYX Finance Experiences a 40% Surge but Faces a Cooling Off Period – A Retest at $3 Possible ONLY IF…

MYX Finance has seen a remarkable increase of over 40%, but it has retraced back towards the $2.4-$2.6 range. To confirm a real price reversal, the token needs to remain above critical support levels, specifically the regression band. Traders are observing market dynamics closely to anticipate the next price movements.

Key Takeaways

MYX Finance has shown early signs of bullish movement but needs to stay above the regression band for a confirmed reversal.
Key indicators including liquidity, market flows, and Open Interest (OI) will determine if MYX targets the $3.0–$3.5 range or falls back to $2.3.
The current price situation indicates selective accumulation and a potential entry for buyers if certain conditions are met.

MYX Finance [MYX] recently experienced an impressive surge, rising over 40% toward the $3.5 mark, before sellers quickly intervened and pushed the price back down to the $2.4-$2.6 range. Traders are now analyzing whether this spike was due to genuine market interest or simply a result of short-term volatility driven by speculation.

Currently, MYX Finance is trading at the upper boundary of its downward regression trend. This level is often associated with initial recovery attempts rather than clear breakouts. Traders are monitoring liquidity clusters, Open Interest (OI) behavior, and exchange interactions, as these factors will influence expectations in the near term. Understanding these metrics is crucial as they indicate whether MYX Finance will successfully transition into a sustained upward trend or retreat into support levels.

Myx Finance jumps 40% before cooling off — Can bulls regain control?

MYX’s 40% Surge: Genuine Breakout or Temporary Spike?

The momentum for MYX Finance picked up significantly earlier today, with buyers aggressively pushing the price towards $3.5. However, sellers quickly countered this action, causing the price to retreat back toward the $2.5 range. At this time, the token is positioned near the upper regression band, suggesting a crucial moment for market participants.

Buyers are strategically defending this price point, which is critical for establishing a potential turnaround. The Relative Strength Index (RSI) is currently at 44, indicating a slight uptick in momentum that could favor a modest recovery without excessive overheating. For a genuine reversal to occur, MYX needs to maintain its position above this upper band. Falling below this level could generate doubts about the market structure, but strong inflows might stabilize the price around this area.

Traders are now watching closely for a confirmed breakout attempt toward the $3.0 region.

MYX Finance price action Source: TradingView

Changes in MYX Finance Exchange Flows

Currently, the Gate exchange is showing a dominant trading volume for MYX Finance, with $689.07K reported in the past 24 hours and a net inflow of $27.96K, attracting much market attention. In comparison, Kraken's trading volume stands at a mere $43.7K with a net inflow of $11.73K. This significant difference underscores a concentrated trading activity on Gate, where many traders are making strategic entry and exit decisions.

This concentrated flow indicates selective accumulation around critical support levels. Given MYX Finance's sensitivity to activity on Gate, such concentrated volume tends to lead to noticeable intraday price fluctuations during volatile periods. Buyers are actively entering positions as prices retract toward the upper band, which bolsters bullish sentiment and helps MYX Finance maintain a solid market structure amid uncertain conditions. Traders keenly observe Gate's flow patterns, as any changes can significantly affect short-term price direction.

MYX Finance spot netflows Source: CoinGlass

Studying MYX Finance's Open Interest Trends

The Open Interest (OI) in MYX Finance futures markets soared to nearly $50M during its recent surge but has since decreased to around $40M as traders began to lessen their leverage exposure. This initial spike indicated a high speculative interest, while the subsequent reduction suggests that traders may be cashing in on profits or adopting a more cautious approach following the swift reversal near $3.5.

Despite this decline, MYX retains a considerable OI base compared to previous weeks, indicating ongoing speculative involvement. Traders are closely monitoring the $2.3–2.5 region, as strong price reactions from this area can often lead to renewed long positions. The current $40M OI level still offers sufficient speculative potential to fuel future market fluctuations as MYX seeks to stabilize and regain momentum.

MYX Finance OI chart Source: CoinGlass

Key Liquidity Zones to Keep an Eye On

The 24-hour liquidation heatmap indicates crucial liquidity pockets between $2.5 and $3.5, representing areas where many leveraged MYX Finance positions are concentrated. Prices tend to gravitate toward these zones, as liquidation events can trigger rapid price volatility.

If the price moves back toward $3.0, MYX will enter a region filled with long position liquidations, potentially creating heightened price movement if these positions are activated. Conversely, a dip to $2.3 uncovers deeper liquidity pools that could lead to sharp reactions before any potential recovery. Consequently, liquidity distribution is vital for determining MYX Finance's next significant price swing, with traders continually assessing which cluster presents the least resistance based on momentum, exchange flows, and intraday volatility shifts.

Source: CoinGlass

In conclusion, MYX Finance has reached a pivotal point following its 40% rally and subsequent decline. The token is now stabilizing near the upper regression band, backed by selective inflows, improving RSI strength, and a still-active speculative base. If buyers can defend the $2.4–2.5 range while Gate continues to lead accumulation efforts, MYX may attempt another climb toward the liquidity cluster at $3.0–3.5.