MYX Finance Rises 11% After Period of Inactivity — Can Bulls Maintain This Momentum?

Summary: MYX Finance has experienced a notable 11% increase in value after weeks of little movement, raising questions about its sustainability. Key price levels and trading volume trends provide insights into the altcoin's future direction.

Key Takeaways

MYX Finance's recent 11% gain raises concerns about its sustainability.
The token is trading above a crucial breakout level near $4, with potential to revisit $9.
Perpetual trading volume remains strong, particularly on BNB Smart Chain.
Total Value Locked (TVL) is increasing but is still low compared to other DeFi sectors.
Divergence between spot and derivative holders suggests a shift in trader preferences.

Can MYX Maintain Its Breakout?

As the year 2025 comes to an end, decentralized exchange (DEX) tokens have shown considerable signs of weakness. However, MYX Finance has emerged as an exception, showcasing a daily gain of approximately 11%, based on data from CoinMarketCap. This spike, while impressive, raises questions regarding its durability.

MYX [MYX] has successfully traded above a pivotal breakout level of $4 after experiencing weeks of sideways movement since October 11. The market has been characterized by a consistent balance, with buyers and sellers vying for control. Currently, MYX’s price is fluctuating between $4.67 and $6, indicating uncertainty rather than a clear continuation of trends.

Technical indicators are presenting a more favorable outlook. The Bull Bear Power metric has reached 1.236, signaling a gradual strengthening of buying pressure. Additionally, the Stochastic RSI has dipped into the oversold territory, displaying a bullish crossover.

MYX Finance

Source: TradingView

These shifts could lay the groundwork for a significant price movement. If MYX manages to maintain its position above the $4 breakout zone, it might revisit the $9 area, previously identified as a triple-top neckline. Conversely, a sustained drop below this level would negate this positive setup.

Perpetual Trading Volume and Total Value Locked Are on the Rise

Regarding perpetual trading volume, MYX has demonstrated notable resilience since September. Last week's perpetual volume exceeded $1.92 billion, with the current week already surpassing $277 million. Most of this trading activity occurred on the BNB Smart Chain, accounting for approximately $1.88 billion, with smaller shares on Linea and Arbitrum One (ARB).

MYX

Source: DeFiLlama

Additionally, Total Value Locked (TVL) figures are showing a recovery after bottoming out at $27 million in December. As of the start of the new year, this figure has increased by $6 million, reaching about $33 million. This growth indicates movement, yet highlights that the overall narrative within the cryptocurrency sphere still lacks substantial force, especially when compared to other areas within DeFi.

Analyzing Spot and Derivative Holders

Data regarding token holders reveals a distinct divergence. According to Token Terminal, the number of spot holders has dwindled to 56.8K from a previous peak of 71.2K, placing MYX ninth among DEX tokens based on holder count. In contrast, the number of derivative exchange holders has climbed above 1.6 million from approximately 1.5 million in the same timeframe. This shift suggests that traders are favoring leveraged exposure over long-term spot holdings.

MYX Data

Source: Token Terminal

In the short term, the market structure appears to favor buyers as long as MYX remains above $4. Regaining momentum in the neckline zone could signal a renewed push toward higher resistance levels. However, sustained success will rely on continued volume growth rather than technical indicators alone.

Conclusion

MYX Finance's recent surge raises anticipation within the cryptocurrency community regarding its potential. With promising signs in trading volume and momentum indicators, the future could hold exciting developments for MYX — provided it can maintain its position above critical price levels.