MYX Finance Breaks Out of Triangle Pattern

MYX Finance has seen a significant surge in price over the past 24 hours, rising by more than 13% after breaking out of a long-standing triangle pattern. This breakout was confirmed on the 4-hour chart, where the altcoin surpassed resistance levels and breached the slanting resistance at $0.07226.

The breakout was largely driven by bulls on the Binance exchange, with 75% of top traders holding long positions and only 25% shorting. This is reflected in the Long/Short ratio for top trader positions, which stood at 1.295.

Furthermore, the RSI Divergence signaled a bullish trend, with a rising reading of 76.58. While bears were present around $0.09, the altcoin's struggle to surpass this zone may be overcome if it breaches the level.

If MYX Finance can push past $0.12, its next significant area of supply will sit at $0.1582. However, whether it can reach or exceed this level remains uncertain.