🚀 MYX Finance Eyes Critical $6 Resistance – Could the Rally Continue? 🚀
MYX Finance ($MYX ) is heating up, approaching a key short-term resistance zone around $6.07, last seen during the daily close on January 3. Traders are watching closely as momentum builds, suggesting this could be a decisive moment for the coin.
📈 CURRENT MARKET ACTION
• $MYX is trading ~1% higher today, extending gains from a 4% rise yesterday
• Buying interest remains strong as momentum gradually rebuilds
• Daily RSI at 71 – entering overbought territory, reflecting robust buying pressure
⚡ TECHNICAL OUTLOOK
Bullish Scenario:
A daily close above $6.07 could confirm continuation toward the January 3 high near $7.29
Watch for additional resistance from a descending trendline drawn from October 29 & November 15 swing highs
Strong momentum indicators (MACD trending upward) support a positive bias
Bearish Scenario:
Failure to hold above $6.07 may trigger a pullback
Price could revisit key support near $4.58 (January 6 low)
💡 TECHNICAL TRADE IDEA (Personal View)
Buy Zone: $5.70 – $6.05
Take Profit: $6.90 – $7.30
Stop Loss: Below $4.55
This setup reflects a cautious bullish outlook, contingent on price holding above critical support levels.
⚠️ DISCLAIMER
This is informational only and reflects personal market observations. Crypto markets are highly volatile, and readers should do their own research before trading.
🔥 Bottom line: MYX Finance is at a pivotal juncture. A clear breakout above $6.07 could ignite a new rally, but traders should remain mindful of resistance and potential pullbacks.
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