• MYX Finance (MYX) price facing extreme bullishness on the daily technical charts. Price trading above the key EMA marks showcasing bullishness.
  • MYX price is up by almost 25% in the last 24 hours suggesting bulls dominance. 

MYX Finance (MYX) is showing a very strong bullish trend in the daily technical charts. The cryptocurrency is currently trading at $11.24 following a phenomenal rise since it was at lows of around $8.88, as per CMC data. The price movement depicts a typical break out trend that has shot MYX far beyond the crucial moving averages.

The existing price pattern indicates that MYX is trading way above both the major exponential moving averages. The cryptocurrency is in a good bullish position with the 50-day EMA standing at $6.8770 and the 100-day EMA at $4.3449. This is a positive sign that the buying pressure is sustained and that the current trend is the upward one. The fact that the shorter-term EMA intersection with the longer-term EMA is in the golden cross formation also supports the bullish view.

What Next For MYX Price?

The MACD indicator shows positive momentum where the MACD line at $1.2276 is trading above the signal line at $1.7849 albeit with some convergence. The histogram is still in the positive side meaning that there is still a bullish trend although it has slowed down. The RSI value of 57.95 indicates that the asset is in a good positive condition without being grossly overbought, and it has room to move further.

The market sentiment is still at a resounding positive at 0.0464 indicating a rise in investor confidence in MYX Finance. The 24-hour trading data with about 25% gains indicates high buying interest. Volume trends indicate that the current prices are underpinned by a strong purchasing activity.

With the existing technical configuration,MYX seems to be heading to the next level of improvement to the target of $15 which is about 33% upside of the current levels. The break above $15 may succeed to push the prices to the resistance zone of $18. Nevertheless, traders are advised to observe the support level of $10.0864 that has been important in the recent price movement.

The technical outlook of MYX Finance is overwhelmingly positive, with several pointers that indicate further growth in the near future.

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