Key dishes to remember
What is the next step for the price of Myx Finance?
Altcoin could remain linked to the beach unless a solid catalyst arises.
Can traders still benefit from Myx Finance?
Yes, Swing Traders can target the high and low range for opportunities if the consolidation extends.
Myx Finance (Myx) Consolidated its recent gains greater than $ 10 after a recent massive 4x increase. In fact, a recent ambcrypto report had planned that late late could put pressure for additional gains of 80% if they defend the level of $ 10.
Indeed, the support of $ 10 took place and the additional profit was carried out. However, the latest rate drop by Fed Haussier did not trigger a price rally more than $ 18.
As expected, this raises an important question-will Altcoin remain linked to the beach to the fourth quarter?
Will the price range extend?
Source: Myx / USDT, tradingView
In the past 12 days, Myx has ossed between $ 10 and $ 18, offering swing trading opportunities.
If the lateral structure extends for the following two weeks, the weakness of the price of press time nearly $ 18 could offer a short-circuit opportunity. Especially if BTC also falls or also enters a consolidation range.
In such a case, the for -profit target would be $ 10. The drop in trading volume, as shown in the OB of the decline, also referred to the potential weakness of price dynamics.
Source: Myx’s obv, tradingView
However, the thesis will be invalidated if Myx is decisively exceeding above $ 18 and transforms it into firm support.
In such a scenario, a prolonged upward trend around $ 28 could be more feasible. This could be confirmed by a bullish break in the REB canal.
Does the decline go to $ 14 or $ 10?
Here, it should be noted that the thermal liquidation cards have revealed liquidity pockets below $ 15, $ 14 and $ 10. In other words, these levels could be crucial magnets and soils likely prices in the event of decline.
Source: Coringlass
Thus, partial short-circuit benefits could be made at $ 14 at $ 15, and the rest was raised at $ 10. This could help avoid slowdown gains if the price is reversed highly at $ 18 (liquidity upwards).
Overall, Myx could prolong its consolidation greater than $ 10, which makes the levels of scope crucial for negotiation opportunities. However, an acute movement above $ 18 would invalidate the lateral projection.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
