MYX is back in the headlines. It surged 12% on the 22nd of January, topping the list of gainers.
Since the beginning of 2026, MYX surged over 96%, with a brief retrace. Despite this, it remained up over 63% for the year at the time of writing.
The coin had a strong performance in 2025, looking back to its all-time high (ATH) of $19.90. But what caused this 12% rally?
V2 Airdrop’s reward distribution fuels MYX
On the 8th of January, MYX launched its largest airdrop to date, distributing 5 million MYX tokens (worth approximately $29.45M) and 5 million ZKP tokens.
The distribution targeted early users who engaged with the platform before the V2 update.
The airdrop incentivized user loyalty and attracted new participants, reducing sell pressure by encouraging holders to keep their positions. How did this airdrop directly impact MYX’s price surge?
The market saw increased demand for MYX Finance [MYX] tokens as a result of the airdrop, driving the bullish movement. This strategy acted as a catalyst for MYX’s 12% rally.
Yet, the long-term impact depends on how these tokens are handled in the secondary market. Could the rally continue post-claim?
MYX shows massive strength
MYX Finance [MYX] completed a bullish double bottom formation, a signal of massive strength. After reaching $7.20, it formed the first bottom, and the second bottom now played out.
Should MYX break resistance at $6.12, the double bottom pattern could drive it higher.
Looking ahead, breaking resistance could push MYX to $7.30, confirming the bullish trend. Traders are waiting for confirmation that the rally has legs.
Liquidity surrounds $7.60: Will it act as a magnet?
MYX’s liquidity heatmaps revealed decent clusters forming around $7.60 on higher timeframes. These zones are often targeted by market makers, and if MYX breaks resistance, it could trigger a rally.
If MYX clears the resistance, it could test new highs. However, failure to break $6.12 resistance could invite a pullback, challenging support at $4.40.
Potential risk: Will MYX manage to stay above $4.40?
Despite the bullish outlook, MYX needed to hold above $4.40, which became a crucial support level. If it failed to maintain this level, it risked retracing deeper.
The MACD showed increasing bullish momentum with a rising histogram, confirming upward pressure.
Additionally, the RSI was at 63.19, indicating that MYX was in the neutral to bullish zone, with room for further gains.
Traders closely monitored these indicators, as a failure to maintain support at $4.40 could have weakened the bullish momentum and limited MYX’s upside potential.
Final Thoughts
- MYX’s rally was heavily influenced by the V2 airdrop, which increased demand and reduced sell pressure.
- The bullish double bottom formation suggested further gains, but $4.40 remained the critical support level.
