MYX Finance: The Battle to Hold $10 – A Turning Point for a New Rise Cycle?

On September 8, MYX Finance (MYX) surprised the DeFi market by skyrocketing over 298%, from $4 to $14 in just one day. Not stopping there, on September 9, this token continued to extend its upward trend and reached a peak of $18 – providing nearly 56% additional profit for buyers. 📈 Reasons for the Explosion Strong upward momentum has been triggered by the huge on-chain perpetual trading volume of MYX. According to data from BNB Chain, MYX Finance has risen to lead in trading volume alongside PancakeSwap (CAKE). This is not surprising at all, as previously tokens in the same category such as Hyperliquid (HYPE) and IDEX also recorded spectacular surges. Notably, the trading volume of perpetuals on DEX has approached 10% compared to CEX, reflecting the growing appeal of DeFi in the current phase.

⚠️ Key Point: $10 – The Resistance Level of the Bulls After reaching $18, MYX experienced a correction due to profit-taking pressure. At the time of writing, the price is gradually retreating to the Fib 0.5 – 0.618 zone, coinciding around the psychological threshold of $10.

If maintaining $10, the bulls could push the price recovery to $18, even extending to $28 – corresponding to profit levels of +55% to +150%. The OBV (On Balance Volume) indicator remains high, indicating that trading momentum and the interest of capital flow have not weakened. This is the basis for buyers to continue to expect a bullish scenario. However, both the low and high time frames are giving overbought signals, indicating that the market may need another "cooling off" period before it can bounce back. 📉 Risk Scenario If Losing $10

If it breaks $9.5 – $9, the advantage will lean towards the sellers. There is a large liquidity zone at $12, $9, and $3. In a worst-case scenario, losing $10 could quickly pull the price down to $3 – the strongest liquidity level. 🔥 In Summary Bullish scenario: Hold $10 → Target $18 – $28. Bearish scenario: Lose $10 → Selling pressure drags down to $9, even $3. 👉 After generating more than 4 times its value just in September, MYX is entering a decisive phase. If the bulls successfully defend $10, the market may witness another strong rally. But if this line of defense collapses, the risk of a deep decline will be very high.