MYX’s Epic Bull Run: Will $7.50 Surrender or Fight Back?

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Ah, behold the spectacle of MYX Finance [MYX], where bulls prance about like triumphant actors upon the stage of finance! With prices soaring to $6.38 on the 24th of January-oh, what a day!-these bullish thespians danced gracefully above the 7-day and 30-day SMAs, leaving bears to gnash their teeth in despair.

Lo, the short-term structure improved, and the bears, those pitiful villains, found themselves outmatched! Their feeble attempts to drag prices lower were thwarted by dip buyers, who swooped in like gallant heroes, fueling the grand momentum upward.

Meanwhile, the RSI lingered near 60, whispering sweet nothings of strength without the folly of overextension. Thus, traders remained as confident as a nobleman at a banquet, rather than trembling like peasants before a storm.

And let us not forget the 23.6% Fibonacci Retracement at $6.19-oh, how it bowed before the price, transforming into a humble support! Such deference!

This noble defense signaled acceptance at loftier heights, emboldening traders to dream of continuation rather than dreary range-bound drudgery.

And the volume! Ah, the volume! Those impulsive candles swelled with conviction-led buying, not mere short-covering trickery. What a sight to behold!

Thus, market participants, like eager theatergoers, leaned into trend-following setups. The bulls, ever ambitious, now set their sights upon the grand prize-the $7.20-$7.50 resistance zone-where glory and price discovery await!

Yet, lest we forget, the $4.80-$5.00 region remains the steadfast foundation, the structural support upon which broader sentiment rests-like a trusty servant holding up a nobleman’s feast.

Sustained Perp Volume: A Tale of Capital, Not Mere Gambling

Ah, the Perpetual Volume of MYX-what a drama unfolds! For months, it lingered modestly around $250-300 million, like a cautious courtier awaiting the king’s favor.

But lo! A sudden surge toward $550-600 million-what audacity! What a regime change! And yet, this was no fleeting burst of speculative madness. Nay, it built upon steady engagement, like a seasoned actor finally receiving his standing ovation.

As momentum swelled, traders enlarged their positions, deepening liquidity like a well-stocked wine cellar. The bears, those poor souls, found themselves unable to halt the bullish procession.

The v2 upgrade-ah, what a structural masterpiece! Execution improved, liquidity flowed smoothly, and traders, no longer chasing hollow hype, scaled their positions with the grace of seasoned performers.

This was conviction, dear reader, not mere FOMO! Participants, wise as philosophers, responded to tighter spreads, refined structure, and newfound faith in MYX’s execution.

And let us not overlook the broader capital rotation into perpetual DEXs-oh, how it amplified the spectacle! While spot markets drowsed, MYX’s perpetual stage thrived.

For investors, this surge was no mere flash in the pan. Nay, it signaled MYX’s growing relevance-provided, of course, that this elevated activity endured beyond the initial applause.

Can the MYX Bulls Storm the $7.50 Citadel?

MYX’s price action, compressed beneath the $7.20-$7.50 fortress, whispered of buildup, not exhaustion. Bulls, ever vigilant, defended higher lows along an ascending trendline-oh, what elegance!

Meanwhile, price clung to the short-term EMA like a lover’s embrace, confirming dynamic support and an unwavering upside bias.

Momentum stabilized, RSI hovered near 60-strong, yet not reckless-keeping buyers as lively as jesters at a feast.

And volume! Oh, volume expanded on bullish candles, signaling commitment, not mere desperation. What a performance!

For bulls to seize $7.50, they must maintain higher lows and breach the resistance with thunderous volume. Should they succeed, a grander trading range shall unfold-like the second act of a triumphant play!

Final Musings

  • MYX’s price action, a tale of conviction-led momentum, sees buyers reigning supreme above key technical levels, with volume confirming genuine acceptance-not mere fleeting folly.
  • Perpetual volume’s grand expansion heralds a structural shift, bolstered by the v2 upgrade and capital’s grand migration into perpetual DEXs, reinforcing MYX’s liquidity depth and growing prominence.

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2026-01-25 11:04