The price of MYX Finance (MYX), the native token of the decentralised derivatives platform, has staged one of the most eye-catching rallies in recent weeks. After overcoming fraud allegations, buoyed by renewed confidence in the broader crypto market, MYX is now trading close to its record high, prompting traders to ask whether the token can push through its ATH at $19.03. Bulls push MYX price near record highs At press time, MYX was trading at around $17.29, up nearly 60% in the past 24 hours. The token’s rally has lifted its market capitalisation to over $3 billion, making it one of the most valuable derivatives tokens in circulation. Trading volumes have also spiked sharply, with daily turnover exceeding $400 million, showing how speculative momentum has returned in force. The token has come close to breaking its all-time high of $19.03, set just six days ago, but has so far struggled to hold above the $18.60 resistance zone. A clean breakout above this level could open the door to a move toward $23, while failure to clear it risks a pullback toward stronger support areas below $11. Whales and liquidations fuel demand One of the key drivers behind the sharp rebound has been the behaviour of large holders. Wallets with more than $1 million worth of MYX increased their positions by 17% in the past week, adding more than 850,000 tokens. With nearly 80% of the token supply still locked, concentrated whale activity is placing significant upward pressure on the circulating market. At the same time, a wave of short liquidations has amplified the rally. Over $50 million worth of bearish bets were wiped out in the past sessions, creating a squeeze that pushed MYX higher. This has coincided with renewed hype around the project’s upcoming V2 upgrade, which promises gasless trades, cross-chain functionality, and a zero-slippage trading experience. Technical analysis signals a cautious outlook Momentum indicators show that demand for MYX remains strong, but warning signs are starting to appear. MYX Finance price analysis | Source: CoinMarketCap The Relative Strength Index (RSI) on the daily chart is currently hovering around 74, signalling bullish strength but in the overbought territory. If the RSI pushes back above 80, short-term profit-taking could trigger a correction. The Moving Average Convergence Divergence (MACD) is also closing in on the signal line, raising the possibility of a bearish crossover. Such a move would suggest weakening momentum, even as price action continues to test resistance near its highs. With volatility running high, Bollinger Bands are also signalling a wide trading range, adding to the uncertainty. But despite the technical caution, investor sentiment toward MYX appears resilient. The denial of fraud allegations earlier this month helped repair the token’s image and provided a floor for fresh buying. The project’s Matching Pool Mechanism, designed to reduce slippage, and its cross-chain design have also attracted attention from traders looking for user-friendly DeFi solutions. The post MYX Finance token price forecast: can MYX price reclaim $19? appeared first on Invezz
