MYX Finance’s price reboundeed from a panic‑driven low near $0.165 to trade around $0.252, a 6.85% gain on the session, according to the source. The rally has seen the asset reclaim Fibonacci retracement levels and approach the major $0.28‑$0.30 supply zone, suggesting a possible shift from downtrend to uptrend.

Reclaiming Fibonacci Retracements: From 23.6% to 78.6%

The source reports that after a liquidation event pushed the price to a capitulation low of $0.159, buyers defended key Fibonacci levels: 23.6% at $0.188, 38.6% at $0.207, and 50% at $0.224. The asset then reclaimed the 61.8% level at $0.241 and surged toward the 78.6% retracement at $0.265, trading near $0.257 after a 9.2% daily gain. This sequence indicates that the market is absorbing supply at historically significant technical benchmarks.

RSI and MACD Confirm Bullish Momentum

According to the report, the Relative Strength Index (RSI) climbed to 72.3, while the Moving Average Convergence Divergence (MACD) showed a bullish crossover with an expanding histogram. The source notes that the RSI is above 70, indicating overbought conditions, yet in a strong uptrend overbought levels can persist. The lack of bearish divergence in the RSI and the expanding MACD histogram suggest that buying pressure is still strong.

Key Levels to Watch: $0.23 Support and $0.28‑$0.30 Resistance

The article highlights $0.23 as a critical support area that has flipped from resistance, and the $0.28‑$0.30 supply zone as a potential barrier. Traders are closely monitoring this region, as a breakout above $0.30 could propel MYX toward the next resistance around $0.35. The source also mentions that a weekly close above $0.30 would invalidate the bearish structure from April and May.

Volume Profile and Market Sentiment: Signs of Accumulation

As the source explains, the volume profile shows increasing volume on up days and declining volume on down days, a classic pattern of accumulation. This, combined with the bullish technical indicators, paints a picture of sustained buying interest. However, the source cautions that a temporary retracement to test the newly established support levels would be healthy for the continuation of the trend.

Unanswered Questions: Will the $0.28‑$0.30 Zone Hold?

While the source outlines the currnt bullish setup,it leaves open whether the $0.28‑$0.30 supply zone will act as a hard stop or be breached. Additionally, the report does not clarify how broader macroeconomic factors or risk‑on sentiment might influence the next leg higher. finally, the source does not confirm whether a retest of the $0.23 area will strengthen support or signal a false breakout.