MYX Finance has defied broader market weakness with a sharp rally, gaining strong upside momentum over the past week. The surge reflects sustained investor confidence despite Bitcoin’s drop toward $65,000. 

While demand remains firm, emerging resistance levels suggest MYX’s upside may face near-term constraints if momentum weakens.

Market indicators show MYX is benefiting from steady capital inflows. The Chaikin Money Flow, which tracks buying and selling pressure, has crossed above the zero line. This shift places MYX in the positive zone, a signal commonly associated with accumulation and strengthening investor participation.

Positive CMF readings often support price recoveries during volatile periods. In MYX’s case, rising inflows suggest buyers are absorbing supply efficiently. This behavior reinforces bullish sentiment and supports price stability, even as broader crypto markets struggle to regain footing.

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Despite strong spot demand, derivatives data signals caution. MYX’s funding rate has dropped sharply into negative territory. This move reflects the growing dominance of short positions over longs. Futures traders appear increasingly skeptical about the sustainability of MYX’s rally.

The decline in funding rates occurred as prices continued to rise. Such divergence often suggests traders are positioning for a pullback rather than chasing upside. Elevated short interest can pressure price stability, especially if bullish momentum slows or broader market conditions deteriorate further.

MYX price has climbed 32% over the past six days and trades near $6.40 at the time of writing. The token remains above the $5.99 support, which has acted as a key demand zone. MYX has outperformed the broader market, with major assets posting losses.

Sustaining this momentum depends on continued investor conviction. Ongoing inflows are necessary to offset derivatives-driven skepticism. The immediate objective for MYX is reclaiming $6.87 as support. Securing that level could allow the price to advance toward the $7.49 resistance zone.

Downside risks remain if sentiment shifts. A renewed Bitcoin sell-off could weigh on MYX, even if correlation stays limited. Failure to hold current support may trigger a gradual pullback. Such a move would erase part of the recent gains and invalidate the bullish thesis and fall through $5.99 to slide to $5.27 or lower.

The post MYX Finance Price Outshines Bitcoin After 32% Rally Amid Sell-Off appeared first on BeInCrypto.

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