MYX Finance surged 62% during intraday trading to as high as $0.515 before settling near $0.402, signalling renewed investor demand after a prolonged period of heavy losses.
Despite the sharp rally, the token remains far from recovering the roughly 95% losses recorded throughout February and early March.
The rebound appears largely driven by speculative accumulation as investors attempt to capitalise on MYX’s deeply discounted price levels.
The Money Flow Index shows a clear shift in market conditions as selling pressure faded in recent sessions while buying activity strengthened significantly.
However, derivatives market data reveals deep uncertainty among traders, with about $1.43 million in short liquidations compared with roughly $1.40 million in long liquidations.
This near-perfect balance between bullish and bearish positioning suggests that even a small move in either direction could trigger cascading liquidations and heightened volatility.
MYX is approaching resistance around $0.405, where a successful breakout could open a path toward $0.606, while renewed bearish pressure could push the token back toward support near $0.276.