MYX defies market weakness with a strong rally: But THIS concern remains

ambcryptoPublished on 2026-02-02Last updated on 2026-02-02

Abstract

MYX Finance (MYX) demonstrated significant strength against the broader crypto market, rallying 10.7% in 24 hours with a 40% surge in trading volume, while Bitcoin and altcoins declined. The token broke above a key supply zone around $3.7-$4.0, confirming a bullish structure shift. Despite low average volume, recent buying interest has been concentrated on weekends. MYX is currently trading within a range of $4.58 to $7.30, with the 50-day moving average providing support at $4.63. While short-term momentum is strong, a retracement to the $4.58-$4.62 liquidity zone is possible. Traders are advised to consider entries near $4.9-$5.1 on any pullback, targeting the range high of $7.3.

MYX Finance [MYX] showed relative strength against the market. It has rallied 10.7% in the past 24 hours, with a nearly 40% increase in daily trading volume.

Meanwhile, Bitcoin [BTC] was down 2.29%, and the altcoin market has shed 2.97%.

The 1-day chart showed a bullish structure shift in December. MYX buyers followed this up with a bullish continuation, pushing prices back above the $3.7-$4.0 supply zone that had held them back since October 2025.

The 20 and 50-period moving averages captured the strong uptrend of MYX in recent weeks. Over the weekend, MYX had defended the 50 DMA and bounced higher.

The OBV did not see much movement, since the trading volume has been consistently below average recently, apart from occasional spikes in activity.

Interestingly, since mid-November, these individual volume surges occurred on weekends or on a Monday.

A range formation (purple) between $4.58 and $7.30 has been in place since the first week of January.

The 50DMA at $4.63 had confluence with the range lows during the most recent retest, helping explain the MYX price bounce.

What is expected next?

The liquidation map highlighted greater long leverage, especially around $4.58-$4.62. It is possible that MYX would drop once again to revisit this liquidity cluster.

To the north, the short liquidation leverage was also sizeable, up to $6.45.

Traders’ call to action – Buy the retracement

The 1-hour chart showed a bullish structure and strong upward momentum. Lower timeframe traders can wait for a sizeable retracement to buy. Ideally, the $4.9-$5.1 can give long traders an entry.

As the liquidation chart showed, a retest of $4.58 is also a possibility.t

Final Thoughts

Myx Finance token showed relative strength against the wider market over the past 24 hours and is up nearly 23% from the $4.63 local low.
While the short-term upward momentum is strong, the longer timeframe chart showed a range formation, with the upper range extreme at $7.3.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

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