These are the reasons why MYX Finance price surged by 90%

Over the past 24 hours, the MYX Finance price has experienced a explosive surge, soaring nearly 87% at its peak. This movement occurs amid growing expectations for the MYX Finance V2 version, which promises to enable users to launch the perpetual trading market immediately, thereby driving a strong wave of speculation in the market.

MYX Holders Play a Leading Role

On-chain indicators and trading volume suggest that MYX Finance’s upward momentum is supported by genuine demand rather than just short-term speculation. The On-Balance Volume (OBV) indicator has recorded a sharp increase alongside the price, after several consecutive accumulation sessions. This reflects a sustainable accumulation process by investors before the price breakout.

This gradual accumulation indicates increasing confidence among buyers. As the price begins to accelerate, trading volume also rises significantly, confirming broad market participation. The alignment of MYX price and OBV often signals a healthy uptrend, with capital inflows helping the trend to continue rather than reversing suddenly due to low liquidity.

MYX OBV | Source: TradingView Stable trading volume expansion helps reduce the immediate risk of exhaustion. Buyers are willing to trade at higher prices, reinforcing confidence in MYX Finance’s growth prospects. This development shows that the current rally is not solely based on sentiment but is also driven by genuine market participation.

MYX Finance: Facing the Danger Zone

Momentum indicators issue certain warnings but also provide insights into the market context. The RSI has surpassed the 70 threshold, placing MYX in overbought territory – often a sign of potential short-term correction as investors take profits.

However, history shows that MYX Finance has maintained strong upward momentum even when in overbought conditions. In August 2025, MYX increased by up to 1,680% without significant correction. Similarly, in September 2025, it experienced over a 913% increase amid prolonged overbought conditions.

MYX RSI | Source: TradingView These precedents indicate that RSI is not always a definitive sign of an end to MYX’s rally. During periods driven by strong growth narratives, momentum can remain high for extended periods. The current RSI reflects the market’s intrinsic strength rather than a certain reversal signal.

MYX Finance: Breakout Power

In the past 24 hours, MYX price has increased over 87% at its peak, trading around $6.12 at present. This rally has pushed MYX above the $7.00 level in a short period – the highest price in the past three months, indicating renewed market interest. At the same time, MYX has broken out of a more-than-two-month-long ascending channel pattern.

Technical and momentum indicators both suggest that the uptrend could continue if a solid support zone is established. Maintaining the $7.00 level as a stable support is the next key target. If successful, MYX could extend its rally toward the $8.90 zone, with $10.00 becoming the next psychological target.

MYX Price Analysis | Source: TradingView However, downside risks remain if profit-taking activity intensifies. Many investors have waited months for a favorable exit opportunity. If a large sell-off occurs, MYX could drop below $5.83. Losing this level would weaken the bullish structure and potentially bring MYX down to the $4.54 zone, invalidating the current growth thesis.