At the time of writing, MYX trades at $18.22 after surging 30% in the past 24 hours. The token recently set a new ATH on Tuesday and is now just shy of reclaiming that milestone, with momentum favoring another upward push.
Still, the threat of reversal looms. Historically, tokens entering fresh ATH zones often transition from accumulation to profit-taking phases. If investors book profits aggressively, MYX could retreat toward $11.52 or even lower, erasing part of its recent gains.
Conversely, if holders remain resilient and resist selling pressure, MYX could breach its ATH of $18.91 and push past $20.00. Such a move would invalidate the bearish outlook, setting the stage for another leg higher.
Still, the threat of reversal looms. Historically, tokens entering fresh ATH zones often transition from accumulation to profit-taking phases. If investors book profits aggressively, MYX could retreat toward $11.52 or even lower, erasing part of its recent gains.
Conversely, if holders remain resilient and resist selling pressure, MYX could breach its ATH of $18.91 and push past $20.00. Such a move would invalidate the bearish outlook, setting the stage for another leg higher.
Truly Unbiased Cryptocurrency News beincrypto.com
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