MYX Finance ($MYX) has jumped more than 13% in the last 24 hours and is now trading near the $3.12 mark. This strong rise in value is notable to all market watchers.
This is due to the 90% increase in trading activity in the same period of time, pushing its daily volume to $52.87M. The token holds a current market capitalization of about $644 million.
MYX Price action | Source: CoinMarketCap
The main reason for the price jump is a “Hot Listing Alert” on the Chainbased platform. This listing helps more people discover MYX Finance and use it and making decentralized finance easier and more useful by helping money move smoothly across different blockchains.
Meanwhile, Chainbased is building a platform that connects regular banking with crypto finance. This new listing is a good sign for MYX Finance’s future.
Technically, the price action is showing a powerful shift in momentum. The price bounced from a key support zone around $2.50 and $2.75, which gave it a 17% increase in price before slowing down.
This confirms that many buyers entered the market at those lower levels. The token is now testing a major resistance zone between $3.30 and $3.40. This specific area holds many sellers who might try to push the price back down.
MXY Technical Analysis | Source: TradingView
Moving forward, MYX price action prints two possible scenarios. If buyers continue to show strength, the price could rise above the $3.30 level. Moving past that point would signal a strong change toward an upward trend, with the next target near $4.20.
However, if the price fails to break above the $3.30 level, we might see a push to the downside, retesting the $2.50 support zone that started the recent push to the upside
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