Why Is MYX Finance (MYX) Price Up Today?

The MYX Finance token is enjoying a strong day on the charts, surging by over 12% in the last 24 hours to trade around $3.07 at writing. Trading volume has jumped nearly 70%, making MYX one of the market’s top gainers, and the move comes while most of the crypto market is down by more than 2%.

The main catalyst is the fresh listing of MYX Finance on Chainbased, a growing cross-chain DeFi aggregator. The announcement introduced MYX to a wider audience of traders and liquidity providers, emphasizing its focus on multi-chain liquidity and efficient capital deployment. 

Chainbased called MYX Finance a “standout listing shaping the future of DeFi innovation,” citing fundamental strengths like cross-chain liquidity, robust DeFi infrastructure, and community governance.

Chainbased’s ecosystem incorporating BankFi, DeFi, SocialFi, and PayFi has been in increasing motion, and MYX Finance’s listing there suggests increasing exposure for the project. For MYX, this partnership means deeper liquidity access and new users, two crucial ingredients for sustained momentum.

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Short Squeeze and AEON Pay Integration Boost Confidence

According to data shared by Coin Edition, MYX Finance also benefited from a $15.6 million short squeeze, forcing bearish traders to buy back their positions and driving the price higher. 

The move was further fueled by renewed interest in AEON Pay, a DeFi payments solution integrated into MYX’s ecosystem that allows real-world crypto transactions with lower fees.

Interestingly, despite the rapid surge, funding rates remain neutral, indicating that the rally isn’t overly leveraged, a positive sign for potential continuation.

What the MYX Chart Is Showing

On the 15-minute time frame, MYX price has conclusively reversed its existing downtrend and is moving considerably higher on building volume.

After a brief consolidation at $2.70, the token exploded to $3.10, forming successive higher highs and higher lows, a typical bullish reversal indicator.

Momentum meters like RSI are creeping up close to the overbought zone, which would initiate short-term pullbacks, but overall composition is healthy. Should MYX price manage to stay above the $3.00 mark, traders will be eyeing the next resistance at $3.25–$3.40 as the next objective.

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MYX Finance Price Outlook

MYX latest surge shows how quickly sentiment can shift when a strong catalyst hits a low-liquidity token. Between the Chainbased listing, the AEON Pay narrative, and the short squeeze momentum, the token’s fundamentals and technicals are finally aligning.

As long as MYX price remains above its new support level at $2.80 and with volume still being heavy, the bullish setup is still intact. Until market conditions become bullish, however, traders must wait for a retest before expecting another leg higher.

Currently, MYX Finance is among the few tokens defying the broader market trend, a sign that in crypto, one listing or squeeze can remain newsworthy and shift the charts in short order.

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Boluwatife Afe
Boluwatife Afe

Boluwatife is a dedicated content strategist specializing in the crypto industry and is passionate about blockchain technology and digital currencies. With a keen eye for emerging trends and a talent for making complex topics accessible, Boluwatife aims to educate and inspire the crypto community through engaging and insightful content.

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