The post MYX Finance Jumps 41% in a Day but Faces Key Resistance Levels appeared first on Coinpedia Fintech News
MYX Finance has been making waves, and today’s surge is hard to ignore. The token’s price is up 41.47% in the last 24 hours, even though it’s still down 14.65% over the week. With a market cap of $3.09 billion and a massive 133% spike in trading volume, MYX has stepped in as the top gainer among the top 100 cryptos.
What caught my eye, and everyone’s, isn’t just the price action but the fundamentals driving it. MYX’s Matching Pool Mechanism is a clever way of tackling slippage, one of the biggest headaches in decentralized trading. Add in gasless trades across 20+ chains and automatic fee discounts, and you get a platform that feels genuinely user-first. That’s why its latest move higher feels more than just hype.
Whales the Biggest Drivers?
Whale activity has been a major catalyst behind MYX’s price surge. Wallets holding over $1M in MYX increased their positions by 17% last week, accumulating 855,419 tokens. Since 80% of the 1B supply remains locked, this squeeze on circulating supply makes MYX highly sensitive to concentrated buying. While this builds upward pressure, it also raises volatility risks if these large holders decide to trim positions.
Another key driver has been liquidations. Over $53 million worth of shorts were wiped out, amplifying bullish momentum and accelerating the breakout. On top of that, excitement around MYX’s upcoming V2 upgrade is building. The upgrade aims to deliver zero-slippage trading and improved cross-chain functionality, reinforcing investor confidence in the project’s long-term potential.
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MYX Price Analysis
MYX is currently trading at $15.36 after bouncing sharply from yesterday’s $10.53 low. It touched $16.47 earlier in the session, inching closer to its all-time high of $19.01 set just six days ago. The RSI sits at 69.8, nearing overbought territory, while the Bollinger Bands suggest high volatility ahead.
Support is forming near $11.26, while the immediate floor sits at $10.77. If MYX slips below that, it risks further downside toward $8.39. On the flip side, resistance lies at $18.64, with a breakout opening the door toward $23.21.
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FAQs
MYX is up 41% due to whale accumulation, $53M short liquidations, and excitement for its upcoming V2 upgrade featuring zero-slippage trading and cross-chain improvements.
With strong fundamentals like gasless trading and 80% locked supply reducing sell pressure, MYX has potential, but high volatility requires careful risk management.
If it breaks $18.64 resistance, MYX could target $23+. Support sits at $10.77; a break below may test $8.39. RSI at 69.8 suggests caution near-term.
