News

• Hedera dropped to $0.10 as Bitcoin fell to lows of $65,680.
• Ethereum (ETH) has shed 5.3% to under $1,950; XRP, Solana, and BNB also dipped.
• HBAR price could retreat to support at $0.088.

Hedera’s HBAR token is under pressure as leading cryptocurrencies Bitcoin and Ethereum trim recent gains.

The altcoin has dropped to $0.10 as bears show dominance amid broader market caution, with BTC giving up gains to under $66,000.

Several of the top 10 coins are down too, losing 3-5% of their respective prices in the past 24 hours as of writing.

Downside risks for BTC, ETH, and Solana, among other cryptocurrencies, could accelerate declines for HBAR.

Hedera dips as Bitcoin sheds gains

As noted, Hedera is struggling to hold gains near $0.10 as Bitcoin faces renewed selling pressure.

The benchmark digital asset is trading around $66,230 after testing lows of $65,680 and being down more than 3% in early US trading hours.

Bears showed up as negative sentiment threatens to entrench once again despite a decent uptick in spot ETF outflows over the week.

Bitcoin reversed its gains as US stock futures flipped lower, with investor concerns over AI and its impact reemerged.

A lot of the risk asset jitters on the day came as Jack Dorsey’s Block announced it was slashing its workforce by 4,000.

Tech stocks fell this week despite Nvidia’s earnings beat, and the cascade has seen BTC fail to cement gains near $70.

Analysts say Bitcoin could yet fall to support at $60k or lower before rebounding higher in coming months.

With BTC posting downward movement, Ethereum (ETH) shed 5.3% to under $1,950, while XRP (XRP), Solana (SOL), and BNB also registered losses. The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

HBAR price analysis

Losses across the market come as caution returns. ETF holders and treasuries have snapped up Bitcoin at low prices, but shorts are not done yet.

However, while HBAR’s price is down on the day, the trading volume of $137 million in the last 24 hours is also down by more than 5%.

Bulls may fail to stem the slide as price tests the $0.10 support, but decreased volume points to a potential seller exhaustion.

Other technical indicators outline this mixed short-term outlook, with RSI around 51 suggesting potential upside momentum before HBAR hits overbought conditions.

A break above the upper band, which is also at the resistance line of a descending channel, could see Hedera reclaim $0.12. The 200-day EMA offers the first major hurdle around $0.14.

However, the MACD indicator shows a potential bearish flip as the histogram shrinks near zero.

While volume hints at possible exhaustion in selling, a bearish cross could heighten chances of a dip below $0.10, with support at $0.088 and $0.079.

The post HBAR price slips to $0.10 as Bitcoin weakness sparks bearish breakdown risk appeared first on CoinJournal.

• Hedera dropped to $0.10 as Bitcoin fell to lows of $65,680.
• Ethereum (ETH) has shed 5.3% to under $1,950; XRP, Solana, and BNB also dipped.
• HBAR price could retreat to support at $0.088.

Hedera’s HBAR token is under pressure as leading cryptocurrencies Bitcoin and Ethereum trim recent gains.

The altcoin has dropped to $0.10 as bears show dominance amid broader market caution, with BTC giving up gains to under $66,000.

Several of the top 10 coins are down too, losing 3-5% of their respective prices in the past 24 hours as of writing.

Downside risks for BTC, ETH, and Solana, among other cryptocurrencies, could accelerate declines for HBAR.

Hedera dips as Bitcoin sheds gains

As noted, Hedera is struggling to hold gains near $0.10 as Bitcoin faces renewed selling pressure.

The benchmark digital asset is trading around $66,230 after testing lows of $65,680 and being down more than 3% in early US trading hours.

Bears showed up as negative sentiment threatens to entrench once again despite a decent uptick in spot ETF outflows over the week.

Bitcoin reversed its gains as US stock futures flipped lower, with investor concerns over AI and its impact reemerged.

A lot of the risk asset jitters on the day came as Jack Dorsey’s Block announced it was slashing its workforce by 4,000.

Tech stocks fell this week despite Nvidia’s earnings beat, and the cascade has seen BTC fail to cement gains near $70.

Analysts say Bitcoin could yet fall to support at $60k or lower before rebounding higher in coming months.

With BTC posting downward movement, Ethereum (ETH) shed 5.3% to under $1,950, while XRP (XRP), Solana (SOL), and BNB also registered losses. The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

HBAR price analysis

Losses across the market come as caution returns. ETF holders and treasuries have snapped up Bitcoin at low prices, but shorts are not done yet.

However, while HBAR’s price is down on the day, the trading volume of $137 million in the last 24 hours is also down by more than 5%.

Bulls may fail to stem the slide as price tests the $0.10 support, but decreased volume points to a potential seller exhaustion.

Other technical indicators outline this mixed short-term outlook, with RSI around 51 suggesting potential upside momentum before HBAR hits overbought conditions.

A break above the upper band, which is also at the resistance line of a descending channel, could see Hedera reclaim $0.12. The 200-day EMA offers the first major hurdle around $0.14.

However, the MACD indicator shows a potential bearish flip as the histogram shrinks near zero.

While volume hints at possible exhaustion in selling, a bearish cross could heighten chances of a dip below $0.10, with support at $0.088 and $0.079.

The post HBAR price slips to $0.10 as Bitcoin weakness sparks bearish breakdown risk appeared first on CoinJournal.

• Hedera dropped to $0.10 as Bitcoin fell to lows of $65,680.
• Ethereum (ETH) has shed 5.3% to under $1,950; XRP, Solana, and BNB also dipped.
• HBAR price could retreat to support at $0.088.

Hedera’s HBAR token is under pressure as leading cryptocurrencies Bitcoin and Ethereum trim recent gains.

The altcoin has dropped to $0.10 as bears show dominance amid broader market caution, with BTC giving up gains to under $66,000.

Several of the top 10 coins are down too, losing 3-5% of their respective prices in the past 24 hours as of writing.

Downside risks for BTC, ETH, and Solana, among other cryptocurrencies, could accelerate declines for HBAR.

Hedera dips as Bitcoin sheds gains

As noted, Hedera is struggling to hold gains near $0.10 as Bitcoin faces renewed selling pressure.

The benchmark digital asset is trading around $66,230 after testing lows of $65,680 and being down more than 3% in early US trading hours.

Bears showed up as negative sentiment threatens to entrench once again despite a decent uptick in spot ETF outflows over the week.

Bitcoin reversed its gains as US stock futures flipped lower, with investor concerns over AI and its impact reemerged.

A lot of the risk asset jitters on the day came as Jack Dorsey’s Block announced it was slashing its workforce by 4,000.

Tech stocks fell this week despite Nvidia’s earnings beat, and the cascade has seen BTC fail to cement gains near $70.

Analysts say Bitcoin could yet fall to support at $60k or lower before rebounding higher in coming months.

With BTC posting downward movement, Ethereum (ETH) shed 5.3% to under $1,950, while XRP (XRP), Solana (SOL), and BNB also registered losses. The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

HBAR price analysis

Losses across the market come as caution returns. ETF holders and treasuries have snapped up Bitcoin at low prices, but shorts are not done yet.

However, while HBAR’s price is down on the day, the trading volume of $137 million in the last 24 hours is also down by more than 5%.

Bulls may fail to stem the slide as price tests the $0.10 support, but decreased volume points to a potential seller exhaustion.

Other technical indicators outline this mixed short-term outlook, with RSI around 51 suggesting potential upside momentum before HBAR hits overbought conditions.

A break above the upper band, which is also at the resistance line of a descending channel, could see Hedera reclaim $0.12. The 200-day EMA offers the first major hurdle around $0.14.

However, the MACD indicator shows a potential bearish flip as the histogram shrinks near zero.

While volume hints at possible exhaustion in selling, a bearish cross could heighten chances of a dip below $0.10, with support at $0.088 and $0.079.

The post HBAR price slips to $0.10 as Bitcoin weakness sparks bearish breakdown risk appeared first on CoinJournal.

• Hedera dropped to $0.10 as Bitcoin fell to lows of $65,680.
• Ethereum (ETH) has shed 5.3% to under $1,950; XRP, Solana, and BNB also dipped.
• HBAR price could retreat to support at $0.088.

Hedera’s HBAR token is under pressure as leading cryptocurrencies Bitcoin and Ethereum trim recent gains.

The altcoin has dropped to $0.10 as bears show dominance amid broader market caution, with BTC giving up gains to under $66,000.

Several of the top 10 coins are down too, losing 3-5% of their respective prices in the past 24 hours as of writing.

Downside risks for BTC, ETH, and Solana, among other cryptocurrencies, could accelerate declines for HBAR.

Hedera dips as Bitcoin sheds gains

As noted, Hedera is struggling to hold gains near $0.10 as Bitcoin faces renewed selling pressure.

The benchmark digital asset is trading around $66,230 after testing lows of $65,680 and being down more than 3% in early US trading hours.

Bears showed up as negative sentiment threatens to entrench once again despite a decent uptick in spot ETF outflows over the week.

Bitcoin reversed its gains as US stock futures flipped lower, with investor concerns over AI and its impact reemerged.

A lot of the risk asset jitters on the day came as Jack Dorsey’s Block announced it was slashing its workforce by 4,000.

Tech stocks fell this week despite Nvidia’s earnings beat, and the cascade has seen BTC fail to cement gains near $70.

Analysts say Bitcoin could yet fall to support at $60k or lower before rebounding higher in coming months.

With BTC posting downward movement, Ethereum (ETH) shed 5.3% to under $1,950, while XRP (XRP), Solana (SOL), and BNB also registered losses. The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

HBAR price analysis

Losses across the market come as caution returns. ETF holders and treasuries have snapped up Bitcoin at low prices, but shorts are not done yet.

However, while HBAR’s price is down on the day, the trading volume of $137 million in the last 24 hours is also down by more than 5%.

Bulls may fail to stem the slide as price tests the $0.10 support, but decreased volume points to a potential seller exhaustion.

Other technical indicators outline this mixed short-term outlook, with RSI around 51 suggesting potential upside momentum before HBAR hits overbought conditions.

A break above the upper band, which is also at the resistance line of a descending channel, could see Hedera reclaim $0.12. The 200-day EMA offers the first major hurdle around $0.14.

However, the MACD indicator shows a potential bearish flip as the histogram shrinks near zero.

While volume hints at possible exhaustion in selling, a bearish cross could heighten chances of a dip below $0.10, with support at $0.088 and $0.079.

The post HBAR price slips to $0.10 as Bitcoin weakness sparks bearish breakdown risk appeared first on CoinJournal.

• Hedera dropped to $0.10 as Bitcoin fell to lows of $65,680.
• Ethereum (ETH) has shed 5.3% to under $1,950; XRP, Solana, and BNB also dipped.
• HBAR price could retreat to support at $0.088.

Hedera’s HBAR token is under pressure as leading cryptocurrencies Bitcoin and Ethereum trim recent gains.

The altcoin has dropped to $0.10 as bears show dominance amid broader market caution, with BTC giving up gains to under $66,000.

Several of the top 10 coins are down too, losing 3-5% of their respective prices in the past 24 hours as of writing.

Downside risks for BTC, ETH, and Solana, among other cryptocurrencies, could accelerate declines for HBAR.

Hedera dips as Bitcoin sheds gains

As noted, Hedera is struggling to hold gains near $0.10 as Bitcoin faces renewed selling pressure.

The benchmark digital asset is trading around $66,230 after testing lows of $65,680 and being down more than 3% in early US trading hours.

Bears showed up as negative sentiment threatens to entrench once again despite a decent uptick in spot ETF outflows over the week.

Bitcoin reversed its gains as US stock futures flipped lower, with investor concerns over AI and its impact reemerged.

A lot of the risk asset jitters on the day came as Jack Dorsey’s Block announced it was slashing its workforce by 4,000.

Tech stocks fell this week despite Nvidia’s earnings beat, and the cascade has seen BTC fail to cement gains near $70.

Analysts say Bitcoin could yet fall to support at $60k or lower before rebounding higher in coming months.

With BTC posting downward movement, Ethereum (ETH) shed 5.3% to under $1,950, while XRP (XRP), Solana (SOL), and BNB also registered losses. The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

The HBAR cryptocurrency is currently -3% in the 24-hour timeframe.

HBAR price analysis

Losses across the market come as caution returns. ETF holders and treasuries have snapped up Bitcoin at low prices, but shorts are not done yet.

However, while HBAR’s price is down on the day, the trading volume of $137 million in the last 24 hours is also down by more than 5%.

Bulls may fail to stem the slide as price tests the $0.10 support, but decreased volume points to a potential seller exhaustion.

Other technical indicators outline this mixed short-term outlook, with RSI around 51 suggesting potential upside momentum before HBAR hits overbought conditions.

A break above the upper band, which is also at the resistance line of a descending channel, could see Hedera reclaim $0.12. The 200-day EMA offers the first major hurdle around $0.14.

However, the MACD indicator shows a potential bearish flip as the histogram shrinks near zero.

While volume hints at possible exhaustion in selling, a bearish cross could heighten chances of a dip below $0.10, with support at $0.088 and $0.079.

The post HBAR price slips to $0.10 as Bitcoin weakness sparks bearish breakdown risk appeared first on CoinJournal.

• MYX rebounds 29% after heavy losses, driven by V2 partnership news.
• Trading volume surges; whales and institutions show bullish signals.
• The immediate key levels to watch out for are the support at $0.441–$0.430 and the resistance at $0.546.

MYX Finance has surprised many traders by climbing nearly 29% in the last 24 hours.

This comes after a brutal 91% drop over the past month, which left the coin trading near historically low levels.

What sparked the MYX Finance price rebound?

The most immediate driver appears to be MYX’s partnership with Consensys to launch MYX Finance V2 after a successful funding round.

The upcoming V2 upgrade promises gasless trading and 50x leverage, features that can attract both retail and institutional traders.

The news has been framed as a “comeback,” and it has sparked genuine buying interest, not just speculative chatter.

Technical factors are also playing a role.

MYX has been bouncing off extreme lows, and the sudden increase in trading volume confirms strong participation in the rebound.

The 24-hour volume surged to over $55 million, suggesting that bargain hunters and momentum traders are stepping in.

Indicators like the Relative Strength Index (RSI), which is oversold, hint at the selling pressure easing, signalling the end of capitulation.

This combination of fundamental and technical drivers has created a near-term bullish environment.

MYX price technical analysis

After climbing above the $0.49 level, MYX is now consolidating rather than extending its breakout.

Market watchers expect the token to trade in the $0.50 to $0.60 range in the near term.

A sustained pickup in buying interest, particularly if supported by larger capital inflows, could open the door for a move toward $0.70.

If participation from larger investors increases, price swings could become more pronounced, with upside levels around $1, $1.50 and potentially $2 coming into focus.

At the same time, the risk of sharp pullbacks remains.

Such declines are common in volatile markets and are often viewed as part of normal price discovery, where weaker positions are forced out, and liquidity is absorbed by larger participants.

Despite the possibility of short-term setbacks, the broader structure is seen as gradually constructive.

Upcoming risks

Traders should be aware of a key event risk.

On March 6th, about 9.72 million MYX tokens will unlock, worth roughly $9.67 million.

This could create short-term selling pressure as holders choose to liquidate some of their positions.

It is an important factor to watch alongside technical levels and the V2 launch.

MYX price forecast

For short-term traders, the near-term support is around $0.441–$0.430.

On the upside, the first resistance lies at $0.546, the previous swing high.

If the price breaks above this level, gains could extend toward $0.570 and potentially beyond.

On the downside, failure to hold $0.430 could see MYX revisit $0.405.

For now, consolidation above $0.49 sets the stage for a gradual upward move, while the V2 launch and new capital entering the market could trigger sharper rallies.

The post MYX rebounds 29% after brutal selloff: what’s driving the bounce? appeared first on CoinJournal.

• MYX rebounds 29% after heavy losses, driven by V2 partnership news.
• Trading volume surges; whales and institutions show bullish signals.
• The immediate key levels to watch out for are the support at $0.441–$0.430 and the resistance at $0.546.

MYX Finance has surprised many traders by climbing nearly 29% in the last 24 hours.

This comes after a brutal 91% drop over the past month, which left the coin trading near historically low levels.

What sparked the MYX Finance price rebound?

The most immediate driver appears to be MYX’s partnership with Consensys to launch MYX Finance V2 after a successful funding round.

The upcoming V2 upgrade promises gasless trading and 50x leverage, features that can attract both retail and institutional traders.

The news has been framed as a “comeback,” and it has sparked genuine buying interest, not just speculative chatter.

Technical factors are also playing a role.

MYX has been bouncing off extreme lows, and the sudden increase in trading volume confirms strong participation in the rebound.

The 24-hour volume surged to over $55 million, suggesting that bargain hunters and momentum traders are stepping in.

Indicators like the Relative Strength Index (RSI), which is oversold, hint at the selling pressure easing, signalling the end of capitulation.

This combination of fundamental and technical drivers has created a near-term bullish environment.

MYX price technical analysis

After climbing above the $0.49 level, MYX is now consolidating rather than extending its breakout.

Market watchers expect the token to trade in the $0.50 to $0.60 range in the near term.

A sustained pickup in buying interest, particularly if supported by larger capital inflows, could open the door for a move toward $0.70.

If participation from larger investors increases, price swings could become more pronounced, with upside levels around $1, $1.50 and potentially $2 coming into focus.

At the same time, the risk of sharp pullbacks remains.

Such declines are common in volatile markets and are often viewed as part of normal price discovery, where weaker positions are forced out, and liquidity is absorbed by larger participants.

Despite the possibility of short-term setbacks, the broader structure is seen as gradually constructive.

Upcoming risks

Traders should be aware of a key event risk.

On March 6th, about 9.72 million MYX tokens will unlock, worth roughly $9.67 million.

This could create short-term selling pressure as holders choose to liquidate some of their positions.

It is an important factor to watch alongside technical levels and the V2 launch.

MYX price forecast

For short-term traders, the near-term support is around $0.441–$0.430.

On the upside, the first resistance lies at $0.546, the previous swing high.

If the price breaks above this level, gains could extend toward $0.570 and potentially beyond.

On the downside, failure to hold $0.430 could see MYX revisit $0.405.

For now, consolidation above $0.49 sets the stage for a gradual upward move, while the V2 launch and new capital entering the market could trigger sharper rallies.

The post MYX rebounds 29% after brutal selloff: what’s driving the bounce? appeared first on CoinJournal.

• MYX rebounds 29% after heavy losses, driven by V2 partnership news.
• Trading volume surges; whales and institutions show bullish signals.
• The immediate key levels to watch out for are the support at $0.441–$0.430 and the resistance at $0.546.

MYX Finance has surprised many traders by climbing nearly 29% in the last 24 hours.

This comes after a brutal 91% drop over the past month, which left the coin trading near historically low levels.

What sparked the MYX Finance price rebound?

The most immediate driver appears to be MYX’s partnership with Consensys to launch MYX Finance V2 after a successful funding round.

The upcoming V2 upgrade promises gasless trading and 50x leverage, features that can attract both retail and institutional traders.

The news has been framed as a “comeback,” and it has sparked genuine buying interest, not just speculative chatter.

Technical factors are also playing a role.

MYX has been bouncing off extreme lows, and the sudden increase in trading volume confirms strong participation in the rebound.

The 24-hour volume surged to over $55 million, suggesting that bargain hunters and momentum traders are stepping in.

Indicators like the Relative Strength Index (RSI), which is oversold, hint at the selling pressure easing, signalling the end of capitulation.

This combination of fundamental and technical drivers has created a near-term bullish environment.

MYX price technical analysis

After climbing above the $0.49 level, MYX is now consolidating rather than extending its breakout.

Market watchers expect the token to trade in the $0.50 to $0.60 range in the near term.

A sustained pickup in buying interest, particularly if supported by larger capital inflows, could open the door for a move toward $0.70.

If participation from larger investors increases, price swings could become more pronounced, with upside levels around $1, $1.50 and potentially $2 coming into focus.

At the same time, the risk of sharp pullbacks remains.

Such declines are common in volatile markets and are often viewed as part of normal price discovery, where weaker positions are forced out, and liquidity is absorbed by larger participants.

Despite the possibility of short-term setbacks, the broader structure is seen as gradually constructive.

Upcoming risks

Traders should be aware of a key event risk.

On March 6th, about 9.72 million MYX tokens will unlock, worth roughly $9.67 million.

This could create short-term selling pressure as holders choose to liquidate some of their positions.

It is an important factor to watch alongside technical levels and the V2 launch.

MYX price forecast

For short-term traders, the near-term support is around $0.441–$0.430.

On the upside, the first resistance lies at $0.546, the previous swing high.

If the price breaks above this level, gains could extend toward $0.570 and potentially beyond.

On the downside, failure to hold $0.430 could see MYX revisit $0.405.

For now, consolidation above $0.49 sets the stage for a gradual upward move, while the V2 launch and new capital entering the market could trigger sharper rallies.

The post MYX rebounds 29% after brutal selloff: what’s driving the bounce? appeared first on CoinJournal.

• MYX rebounds 29% after heavy losses, driven by V2 partnership news.
• Trading volume surges; whales and institutions show bullish signals.
• The immediate key levels to watch out for are the support at $0.441–$0.430 and the resistance at $0.546.

MYX Finance has surprised many traders by climbing nearly 29% in the last 24 hours.

This comes after a brutal 91% drop over the past month, which left the coin trading near historically low levels.

What sparked the MYX Finance price rebound?

The most immediate driver appears to be MYX’s partnership with Consensys to launch MYX Finance V2 after a successful funding round.

The upcoming V2 upgrade promises gasless trading and 50x leverage, features that can attract both retail and institutional traders.

The news has been framed as a “comeback,” and it has sparked genuine buying interest, not just speculative chatter.

Technical factors are also playing a role.

MYX has been bouncing off extreme lows, and the sudden increase in trading volume confirms strong participation in the rebound.

The 24-hour volume surged to over $55 million, suggesting that bargain hunters and momentum traders are stepping in.

Indicators like the Relative Strength Index (RSI), which is oversold, hint at the selling pressure easing, signalling the end of capitulation.

This combination of fundamental and technical drivers has created a near-term bullish environment.

MYX price technical analysis

After climbing above the $0.49 level, MYX is now consolidating rather than extending its breakout.

Market watchers expect the token to trade in the $0.50 to $0.60 range in the near term.

A sustained pickup in buying interest, particularly if supported by larger capital inflows, could open the door for a move toward $0.70.

If participation from larger investors increases, price swings could become more pronounced, with upside levels around $1, $1.50 and potentially $2 coming into focus.

At the same time, the risk of sharp pullbacks remains.

Such declines are common in volatile markets and are often viewed as part of normal price discovery, where weaker positions are forced out, and liquidity is absorbed by larger participants.

Despite the possibility of short-term setbacks, the broader structure is seen as gradually constructive.

Upcoming risks

Traders should be aware of a key event risk.

On March 6th, about 9.72 million MYX tokens will unlock, worth roughly $9.67 million.

This could create short-term selling pressure as holders choose to liquidate some of their positions.

It is an important factor to watch alongside technical levels and the V2 launch.

MYX price forecast

For short-term traders, the near-term support is around $0.441–$0.430.

On the upside, the first resistance lies at $0.546, the previous swing high.

If the price breaks above this level, gains could extend toward $0.570 and potentially beyond.

On the downside, failure to hold $0.430 could see MYX revisit $0.405.

For now, consolidation above $0.49 sets the stage for a gradual upward move, while the V2 launch and new capital entering the market could trigger sharper rallies.

The post MYX rebounds 29% after brutal selloff: what’s driving the bounce? appeared first on CoinJournal.

• MYX rebounds 29% after heavy losses, driven by V2 partnership news.
• Trading volume surges; whales and institutions show bullish signals.
• The immediate key levels to watch out for are the support at $0.441–$0.430 and the resistance at $0.546.

MYX Finance has surprised many traders by climbing nearly 29% in the last 24 hours.

This comes after a brutal 91% drop over the past month, which left the coin trading near historically low levels.

What sparked the MYX Finance price rebound?

The most immediate driver appears to be MYX’s partnership with Consensys to launch MYX Finance V2 after a successful funding round.

The upcoming V2 upgrade promises gasless trading and 50x leverage, features that can attract both retail and institutional traders.

The news has been framed as a “comeback,” and it has sparked genuine buying interest, not just speculative chatter.

Technical factors are also playing a role.

MYX has been bouncing off extreme lows, and the sudden increase in trading volume confirms strong participation in the rebound.

The 24-hour volume surged to over $55 million, suggesting that bargain hunters and momentum traders are stepping in.

Indicators like the Relative Strength Index (RSI), which is oversold, hint at the selling pressure easing, signalling the end of capitulation.

This combination of fundamental and technical drivers has created a near-term bullish environment.

MYX price technical analysis

After climbing above the $0.49 level, MYX is now consolidating rather than extending its breakout.

Market watchers expect the token to trade in the $0.50 to $0.60 range in the near term.

A sustained pickup in buying interest, particularly if supported by larger capital inflows, could open the door for a move toward $0.70.

If participation from larger investors increases, price swings could become more pronounced, with upside levels around $1, $1.50 and potentially $2 coming into focus.

At the same time, the risk of sharp pullbacks remains.

Such declines are common in volatile markets and are often viewed as part of normal price discovery, where weaker positions are forced out, and liquidity is absorbed by larger participants.

Despite the possibility of short-term setbacks, the broader structure is seen as gradually constructive.

Upcoming risks

Traders should be aware of a key event risk.

On March 6th, about 9.72 million MYX tokens will unlock, worth roughly $9.67 million.

This could create short-term selling pressure as holders choose to liquidate some of their positions.

It is an important factor to watch alongside technical levels and the V2 launch.

MYX price forecast

For short-term traders, the near-term support is around $0.441–$0.430.

On the upside, the first resistance lies at $0.546, the previous swing high.

If the price breaks above this level, gains could extend toward $0.570 and potentially beyond.

On the downside, failure to hold $0.430 could see MYX revisit $0.405.

For now, consolidation above $0.49 sets the stage for a gradual upward move, while the V2 launch and new capital entering the market could trigger sharper rallies.

The post MYX rebounds 29% after brutal selloff: what’s driving the bounce? appeared first on CoinJournal.