MYX Finance reclaims $3 — next target $4.40 if $2.93 demand holds
MYX Finance (MYX) has shown renewed upside after a volatile sequence: an initial fakeout pushed price to $3.90 before a liquidity-driven reversal to $2.90, then MYX rallied ~12% in 24 hours to trade near $3.30 and reclaimed the $3 level. A 4‑hour break above $3.10 created an imbalance/demand zone at $2.93–$3.18 that is likely to be retested. Technicals on the daily chart remain bullish, supported by bullish MACD momentum, rising moving averages and on-chain capital inflows. Derivatives signals were mixed in earlier coverage: Open Interest had declined and funding turned deeply negative (suggesting short positioning and squeeze potential), while short/long ratios hovered near parity — indicating some short-hunting around $3.7–$3.9 in prior moves. Liquidation heatmaps identify magnetic zones at $3.87–$4.40 (lighter) and $2.49–$2.66 (denser). Macro sentiment is a limiting factor: Bitcoin failing to reclaim $94.5k keeps broader altcoin risk appetite muted and could cap upside. Trading guidance: traders can lean bullish while price holds the $2.93 demand zone, targeting a move toward $4.40, but manage risk for volatility and potential short squeezes; the bullish setup invalidates on a decisive break below $2.93. This is not financial advice.
Bullish
The combined reports point to a bullish bias for MYX in the short to medium term, provided key demand levels hold. Price reclaimed $3 after a volatility-driven fakeout and formed a clear 4‑hour imbalance (demand zone at $2.93–$3.18) that typically attracts retests and buyer interest. On-chain inflows, bullish MACD and supportive moving averages reinforce momentum. Mixed derivatives signals — falling Open Interest and negative funding — signal that short positions were present and that previous spikes may have hunted shorts; this raises squeeze potential which can amplify rallies. Liquidation heatmaps show higher magnetism above $3.87–$4.40, defining a plausible upside target. Offsetting risks include broader crypto market weakness (BTC failing to reclaim $94.5k), dense liquidation below $2.66, and the possibility of volatility or a failed retest. Therefore, the likely price impact on MYX itself is positive while it remains above the $2.93 demand zone; a decisive break below that level would flip the outlook bearish.