MYX Crashes After Wild Ride – Will It Hit $19 or the Poorhouse? 🎭💸

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Key Takeaways

Why has MYX Finance retraced all the gains made in September?

Oh, darling, the volume soared like a gossip column headline-everyone was talking, nobody was thinking. Then MYX, in a fit of modesty (or perhaps sheer indecency), dipped below $10 and returned every single cent of its brief moment of glory. It’s like showing up to a ball in a golden gown only to trip on the stairs and roll back down in a potato sack. 🥔💃

Can MYX rally to $19 once again?

Well, only if miracles exist and altcoins suddenly develop backbone. A volume surge above average levels might spark hope-like a chandelier flickering in a haunted ballroom. But with altcoin sentiment lying flatter than a crushed martini olive, optimism requires either courage or poor eyesight. 🫒👀

MYX Finance [MYX], the token with more personality swings than a Victorian melodrama, was trading at $2.93-a figure best discussed in hushed tones, like an embarrassing relative. The native token of a DEX that trades perpetuals (and apparently, perpetual hopes) pulled off a 1,878% rally in under 10 days this September. That’s not just a pump-it’s a scene from Gatsby on energy drinks. 🥤💸

Retracement deepens after September peak

From $0.96 to $19-dear heavens, it was gloriously excessive! It rose like Oscar Wilde at a roast: flamboyant, unstoppable, and slightly overdressed. But then, inevitably, came the fall. And not a graceful curtsey-no, this was a full-body tumble into the orchestra pit. 🎻💥

Traders, ever the romantics, believed the sacred Fibonacci levels would hold-especially that flirtatious 78.6% retracement at $4.82, which briefly played the part of “strong, silent support.” How touching. Then Bitcoin waltzed in, dropped from $126k to $102k like a butler quitting mid-dinner service, and MYX retraced the entire rally, nosediving to $0.886-less “digital gold,” more “digital crumb.” It later bounced to $4.33, which we’ll call its “dignified recovery pause,” because optimism is free and delusion costs nothing. 🫠

The daily chart tells a tale of woe: OBV-On-Balance Volume, or as I call it, “The Emotional Thermometer of Traders”-has been sliding gently downward, whispering, “They’re all selling. They want out. They want therapy.” A recovery? Only if sustained buying walks in wearing confidence and clean shoes. 👞💼

Meanwhile, the DEX’s 24-hour perp trading volume stood at $260 million. Not bad, darling-though down from the $330 million heyday. It’s like throwing a party: you invite 330 people, and by midnight, only 260 are left talking to the houseplants. 🪴📉

Short-term expectations for MYX

Last Friday’s altcoin sell-off brought the drama we’ve all come to expect from crypto-a cross between a soap opera and a wrestling match. If $4.33 transforms from resistance into support (a rags-to-resistance story, really), then MYX might squeeze out a comeback. But until then, the market structure on daily and 4-hour charts remains as cheerful as a tax audit. 📉🤡

We’re not turning bullish until buyers show up with torches, pitchforks, and serious intent. That moment? When MYX clears $5.6-the very point where last week’s bearish tantrum began. Cross it, and we might have the start of a romance. Fail, and it’s back to the attic with the rest of the forgotten tokens. 🧳💔

The $2.5 zone has held firm the past week-loyal, dependable, and utterly unexciting. Like a butler who never flinches. The OBV downtrend is still here but has slowed, suggesting selling fatigue. Even villains tire after too much villainy. 🦹‍♂️😴

The MACD, that moody bard of indicators, has crept back toward the zero line. A bullish crossover? That would be the first verse in a potential redemption ballad. And should Bitcoin stage a comeback toward $114k-well, MYX might not hit $19, but it could at least afford a decent suit and a whisper of dignity. 🌟👔

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2025-10-20 04:13