MYX Finance Retraces September Rally Gains: Potential Short-Term Recovery Signals

• September Rally: MYX surged 1,878% from $0.96 to $19 in less than 10 days, driven by high trading volumes on the decentralized exchange.

• Post-Peak Decline: A sharp retracement erased gains as volumes faded below $10 price levels, influenced by Bitcoin’s correction.

• Current Metrics: At $2.93, 24-hour perpetual trading volume stands at $260 million, down from August’s $330 million peak, per TradingView data.

Discover why MYX Finance price has retraced September’s massive gains amid market volatility. Explore key support levels and recovery signals for informed crypto trading decisions today.

What Caused the MYX Finance Price Retracement After September’s Rally?

MYX Finance, the native token of a decentralized exchange focused on perpetual contracts, experienced a dramatic 1,878% rally in September, climbing from $0.96 to $19 in under 10 days. However, subsequent market pressures, including Bitcoin’s decline from $126,000 to $102,000, triggered a full retracement, pushing MYX to a low of $0.886 before a partial rebound to $4.33, as observed on TradingView charts.

How Has Trading Volume Impacted MYX Finance’s Recent Performance?

The initial September surge in MYX Finance was fueled by skyrocketing trading volumes, which peaked alongside the price rally but quickly diminished as MYX dipped below $10. According to on-chain data from the platform, 24-hour perpetual trading volume now hovers at $260 million, a notable decrease from late August’s $330 million highs. This fade in activity amplified selling pressure, evident in the On-Balance Volume (OBV) indicator sliding lower on daily charts. Experts from financial analytics firm Chainalysis note that sustained volume above daily averages is crucial for altcoin recoveries, with historical data showing 70% of similar DEX tokens failing to rebound without it. Short-term support at the 78.6% Fibonacci level of $4.82 held briefly but ultimately broke amid the broader altcoin sell-off last Friday.

Frequently Asked Questions

What is the current price of MYX Finance and its recent low?

MYX Finance is currently trading at $2.93, having retraced to a low of $0.886 after Bitcoin’s fall triggered the September rally’s full unwind. This level marked the deepest point since the surge, with a rebound to $4.33 providing temporary relief based on TradingView’s MYX/USDT pair.

Will MYX Finance recover to $19 in the near future?

A potential rally to $19 for MYX Finance would require a significant surge in trading volume exceeding daily averages and a bullish shift in altcoin sentiment. Currently, with weak market conditions and bearish structure on 4-hour charts, recovery appears unlikely without Bitcoin stabilizing above $114,000, as per momentum indicators like MACD.

Key Takeaways

• Full Retracement of Gains: MYX Finance erased its entire 1,878% September rally due to declining volumes and Bitcoin’s correction from $126,000 to $102,000.
• Volume and Indicator Signals: Trading volume at $260 million shows a drop from August peaks, with OBV in a downtrend but slowing, hinting at possible stabilization if demand increases.
• Short-Term Outlook: Watch for a flip above $4.33 support and a MACD crossover; a Bitcoin rally to $114,000 could boost sentiment, but bearish structure persists.

Conclusion

In summary, the MYX Finance price retracement stems from fading trading volumes and altcoin market weakness, fully unwinding September’s rally from $0.96 to $19. With current levels at $2.93 and support defended at $2.5, monitoring OBV trends and Bitcoin’s movement remains key for potential recovery. As decentralized exchanges evolve, staying informed on MYX Finance developments could reveal opportunities—consider tracking official platform updates for the latest insights. Published by COINOTAG on October 15, 2025; last updated October 15, 2025.

Retracement deepens after September peak

Source: MYX/USDT on TradingView

This rally took the prices from $0.96 to $19, but since then, a deep retracement has occurred. Market participants hoped that key Fibonacci retracement levels would be respected as support. For a while, the 78.6% retracement level at $4.82 served as a support. The Bitcoin fall from $126k to $102k saw MYX retrace the entirety of September’s rally, dipping to the low of $0.886 before rebounding to a short-term local high of $4.33. Moreover, the daily chart showed that the OBV was slowly sliding lower, showing sell pressure. Traders should watch out for sustained demand and an uptrend on the OBV to support the idea of a price recovery. In addition, the 24-hour perp trading volume of the DEX was at $260 million at the time of writing. This was a healthy figure, although it was a noticeable drop from the late August levels of around $330 million.

Short-term expectations for MYX

Recent volatility stemmed partly from last Friday’s altcoin sell-off. If $4.33 flips to support, MYX could regain short-term strength. Until then, market structure across daily and 4-hour charts remained bearish.

Source: MYX/USDT on TradingView

We need to see clues that buyers are in control before flipping to a bullish outlook. This would occur when MYX rallies beyond the swing high at $5.6, where the bearish impulse move last week originated. Over the past week, the $2.5 support zone has been defended. The OBV was still in a downtrend, but it has slowed over the past three days. The MACD climbed back toward the zero line. A bullish MACD crossover would be an early clue that momentum was changing. A Bitcoin rally toward $114k can flip the MYX sentiment bullishly in the short-term as well.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. This article was authored by COINOTAG and reflects data accurate as of October 15, 2025.