MYX Finance (MYX) surged 20.08% in the past 24 hours as trading volume surged 156.95% to $66.74 million, signaling an aggressive capital rotation into the token.
At press time, MYX was trading near $0.4676 with a market cap of $117.59 million, reflecting a broad revaluation of circulating supply.
The increase in liquidity shows that traders are returning with conviction rather than hesitation. Notably, volume growth far outpaced price increases, suggesting active repositioning rather than weak liquidity expansion.
However, such rapid spikes in participation often increase volatility as short-term traders compete for entries.
Therefore, the rally reflects renewed speculative engagement, but sustainability depends on the ability of buyers to continue absorbing supply at current levels.
Can MYX regain its structural stability?
MYX continues to attempt to stabilize after falling below its previous ascending channel structure that defined its previous recovery attempt.
Price remains well below former resistance areas at $6.86, $4.47, and $1.98, which previously served as structural pivots.
The strong vertical sell-off in the $0.46 region highlights the intensity of the recent distribution. However, the price compression around this bottom suggests that the downward acceleration has started to slow.
Buyers have moved closer to current levels, indicating emerging demand at historic lows. Despite this, the broader structure still reflects weakness, and sustained higher closes are necessary before confidence is fully restored across the broader market.
Source: TradingView
At the time of writing, the RSI was hovering around 22, keeping the MYX deep in oversold territory after prolonged bearish pressure. Such prolonged readings below 30 often reflect aggressive liquidation phases that push prices beyond equilibrium levels.
However, the indicator has started to flatten, suggesting that sales intensity has started to compress rather than increase. When the RSI stabilizes at extremely low levels, markets often move into accumulation or consolidation phases.
Even so, oversold conditions are not enough to confirm a reversal. Buyers must reinforce this signal with consistently higher lows and stable price behavior.
Therefore, the RSI currently reflects depletion dynamics, but its confirmation still depends on sustained demand expansion.
Currency outflows strengthen case for accumulation
Data on net spot flows show intermittent but notable FX outflows during recent spikes in volatility. A recent reading of -$60.20,000 confirms that more MYX exited exchanges than entered during this session.
Negative net flow values indicate token withdrawals, which often reflect accumulation behavior rather than immediate distribution intent.
Several green spikes on the chart reinforce periods where traders withdrew liquidity from centralized sites. However, capital outflows alone do not guarantee that this trend will continue.
Nonetheless, consistent FX drawdowns reduce short-term selling pressure and support the argument that the rebound reflects accumulation dynamics rather than temporary speculative noise.
Source: CoinGlass
Rising OI signals strengthened conviction
Open Interest (OI) climbed 12.53% to $32.98 million as prices advanced, reflecting the growing participation in derivatives driving the rebound.
OI on the rise alongside price, it generally signals new positioning rather than simple short covering. Traders have increased their exposure to leverage, which adds conviction but also amplifies the risk of volatility.
When leverage is added to a volatile environment, liquidation cascades can accelerate price movements in both directions.
However, synchronized growth in spot volume and Open Interest suggests coordinated speculative activity rather than isolated futures positioning.
Therefore, derivatives data currently supports the rally, although high leverage could amplify volatility if sentiment changes.
Source: CoinGlass
Does MYX form a bottom?
MYX is now showing early stabilization signals supported by explosive volume, oversold RSI compression, sustained FX outflows, and rising OI.
Currency withdrawals reduce immediate selling pressure, while expanding derivatives participation reflects growing conviction.
Although the broader structure still shows weaknesses, the evidence currently leans toward early bottom-building dynamics rather than further collapse.
Final Summary
- Sustained currency outflows and increasing exposure to derivatives suggest early consolidation of accumulation strength beneath surface volatility.
- However, structural weakness persists and buyers must defend current levels to avoid further downward pressure.
