MYX Finance: 78% Surge, 27% Crash-Who’s the Culprit? 🕵️‍♂️💰

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Since the start of the month, the crypto markets have been on a rollercoaster, much to the delight of those who enjoy a good gamble. Ahead of Bitcoin and Ethereum, the XRP price surprised with a double-digit rise and flipped BNB to become the 4th largest crypto. On the other hand, the memecoins like DOGE & PEPE are also gaining strength. Amid the brewing bullish scenario, the MYX Finance (MYX) price surged close to 80%, but with the rise of bearish influence, the token has been sliced by nearly 30%-a performance that would make even a seasoned gambler raise an eyebrow. Now the question arises, who is selling MYX Finance crypto? A mystery as deep as the Mariana Trench and as thrilling as a poorly directed play. 🎭💸

Price Action Breakdown: What Happened and Who Is Selling

MYX Finance has undergone a sharp momentum reversal after a strong New Year rally. Since January 1, 2026, MYX surged nearly 78%, climbing from the $2.20-$2.30 range to a local high near $3.90-$4.00, supported by expanding volume and momentum-driven entries. This move was largely fueled by short-term traders chasing consecutive resistance breaks, a habit as common as sipping tea in a London drawing room. 🍵

However, price failed to hold above the $3.85-$4.00 resistance zone, where selling pressure emerged. Rejection wicks on intraday charts signalled that early buyers were distributing into strength, rather than fresh demand stepping in. Once MYX slipped below the $3.50-$3.45 support band, downside momentum accelerated. It’s like watching a comedy act where the punchline is a 27% drop. 😂

The token dropped over 27% intraday, driven by a combination of profit-taking, stop-loss triggers, and leveraged long closures. Importantly, volume stayed elevated during the decline, suggesting controlled exits by short-term traders, not panic selling from long-term holders. A masterclass in calculated chaos. 🎯

What’s Next for the MYX Price Rally? 

The MYX Finance price had remained largely non-volatile for a pretty long time, which at the start of the year attracted massive buying interest. The price printed massive bullish candles to reach $7 from the lows around $3.80 to $4. Currently, the selling volume has also spiked to a large extent, raising concerns over the next price action. It’s like a teeter-totter-up, down, and always on the edge of a nervous breakdown. 🪜

The short-term price action suggests an increased MYX price, as the buying volume is almost similar to the selling volume. This suggests the traders have booked the profit, and this may unfortunately keep up the bearish trend. The stochastic RSI is depleting, while the short-term MACD shows a pause in the rising buying pressure. Moreover, the levels are heading for a bearish crossover that may further drag the levels lower. This could compel the price to test the support at $4.61, but a rebound could depend on the strength of the bulls and the volume induced. A game of chicken, perhaps? 🐎

Will MYX Finance Reach $10?

A move to $10 for MYX Finance is possible but not imminent. After a 78% rally and a sharp 27% pullback, it has shifted into a cooling phase, not a continuation move. For $10 to come into play, the MYX price must first reclaim and hold above the $4.00-$4.50 zone with steady volume and follow-through. In the near term, consolidation is more likely than a straight push higher. A $10 target would require multiple confirmed breakout phases and supportive market conditions. Unless, of course, the market decides to play a prank. 🤡

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2026-01-03 17:32