MYX Finance Skyrockets 90%, Here’s What Caused The Rally

MYX Finance experienced an explosive rally, peaking near 87% in 24 hours, driven primarily by rising anticipation for the MYX Finance V2 upgrade, which is expected to enable instant perpetual market creation. On-chain indicators, specifically the On-Balance Volume (OBV), showed sustained accumulation preceding the breakout, suggesting genuine demand supports the move. Although the Relative Strength Index (RSI) entered overbought territory above 70, historical data suggests MYX can sustain rallies while overbought. The price briefly surpassed the $7.00 threshold, breaking out of a two-month ascending channel. Key technical objectives are establishing $7.00 as support to target $8.90 and potentially $10.00, while a drop below $5.83 could invalidate the bullish outlook.

(Source：BeInCrypto)