$MYX is showing a significant change in trading behavior. The Bulls have successfully absorbed the supply, pushing the price up to $6.38 and turning resistance into support. This is not just a simple "pump"; it is a structural change driven by compelling buying power.
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🔹 Surge in Derivatives Volume
The perpetual trading volume has doubled from a stable level of $250 million to the range of $550–600 million.
This is not a fragile speculative excitement. This momentum is fueled by the v2 upgrade and strong capital flow into derivative D.E.X exchanges.
Traders are increasing their position sizes, making it difficult for the bears to hinder the upward trend.
🔸 Technical Setup
Price has turned the Fibonacci level of 23.6% ($6.19) into support. As long as MYX stays above the 7-day SMA, the bullish bias remains intact.
RSI is near 60, reflecting strength but still has plenty of room before entering the overbought zone.
Price action is compressing just below the supply zone of $7.20–$7.50.
🔹 This is a trend-following setup supported by real volume, not due to short-covering.
Maintain a higher low above $6.19 > Break above $7.50 to extend the rally.
Hard Floor: $4.80–$5.00 is still an important anchor for the overall market sentiment.
The derivatives volume reached $600 million and v2 is now operational. Are you positioning for a breakout at $7.50, or waiting for a retest of the $6.19 support?
News and research information from Trading Insight is for reference only and not investment advice. Please read carefully before making any decisions.
