MYX surged over 13% with 24-hour volume exceeding $38.66 million, bringing the Token back into the spotlight as momentum clearly favored buyers.
The price breakout accompanied by increased liquidation indicates that money is flowing back into MYX with determination, improving order matching and reducing slippage, but it also leads to greater volatility as positions adjust quickly.
- The price increase of over 13% and volume reaching $38.66 million reinforced short-term confidence.
- Open Interest increased by 8.48% to $45.63 million, with Derivative supporting an upward trend.
- The heatmap shows that the $3.20–$3.45 liquidation cluster is the target for price pull.
MYX price rises and liquidation surges.
MYX price surged over 13% while 24-hour volume increased by over 20% to $38.66 million, reflecting strong market participation again.
Expanded liquidation leads to better order execution, reduces slippage, and attracts short-term traders. However, as more new positions are opened, volatility can increase due to rapid corrections. The synergy between price and volume brings MYX back on the radar of both the spot and Derivative markets.
Open Interest expansion reinforces the trend.
Open Interest increased by 8.48% to $45.63 million, indicating that traders increased exposure rather than closing positions, reinforcing expectations of a continued trend.
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The widening open interest (OI) coupled with increased leverage and spot money flow implies new Capital entering the market, rather than simply rotating existing positions. However, high leverage increases sensitivity to volatility and the risk of liquidation if momentum weakens. Overall, OI behavior is in sync with the renewed optimistic sentiment in the MYX index.
Source: CoinGlass
Top traders are leaning towards the Longing side.
The Longing/ Short ratio increased to 1.79, with Longing accounts reaching 64.22%, indicating that top traders are leaning towards a bullish scenario.
The tendency toward Longing reflects the confidence of the group sensitive to momentum changes, prioritizing continuation over short-term regression. High Longing positions could increase volatility if sentiment reverses, but currently the position is not too extreme, leaving room for natural upward momentum to develop as open interest (OI) is also expanding.
Source: CoinGlass
MYX broke the downtrend and held above the 50-SMA.
The price broke the downtrend line, holding above the $3.03 region and above the 50-SMA, improving the technical structure in favor of buyers.
Holding above $3.03 and the 50-SMA is typically a trend signal for active traders. Resistance above remains, but the current structure leans more towards buyer control than defense. Sustainability depends on sustained participation, not just isolated spikes; if this holds, the path to higher liquidation zones becomes clearer.
The liquidation heatmap indicates the liquidation target above.
The heatmap shows thick clusters of liquidation at $3.20 and $3.45, while the lower levels are thinner around $2.80–$2.72.
As MYX advances, Short liquidations at $3.20–$3.45 could accelerate momentum. Conversely, the liquidation lower zone reduces immediate selling pressure, but volatility could still extend if leverage is released. The current liquidation distribution favors testing the upper clusters rather than a deep correction, as long as buying remains active.
Source: CoinGlass
MYX could head towards $3.45
Positive signals from volume, open interest, top trader positions, and price structure suggest room to advance to $3.45 if buying pressure persists.
With the "stacked" liquidation above, the path is less obstructed if the support already secured is well protected. Key conditions: maintaining high volume, open interest not shrinking abruptly, and the 50-SMA continuing to support the price. If these factors are met, the probability of testing $3.20 and then $3.45 increases.
Conclude
MYX has a consistent bullish story, as long as cash flow and leverage are controlled.
- The upward momentum is supported by volume, open interest, and trader positions that are in sync with the improving structure.
- Heatmap favors testing $3.20–$3.45 if momentum holds firm.
Frequently Asked Questions
What could weaken the MYX's upward momentum?
The upward momentum could weaken if volume decreases, open interest shrinks, or thick Longing positions reverse quickly, causing chain liquidation, especially if the price falls below the 50-SMA and the $3.03 region.
What are the key technical milestones to watch in the short term?
Support: $3.03 and the 50-SMA. Resistance/ liquidation pull points: $3.20 and $3.45. The $2.80–$2.72 range has lower liquidation , which may temporarily ease selling pressure if a correction occurs.
Why is an increase in Open Interest important for MYX?
Open interest (OI) increased by 8.48% to $45.63 million, indicating new Capital inflows and additional positions opened, which typically reinforces existing trends; however, the risk of liquidation also increases if momentum weakens.
