MYX Finance Soars 13% After Triangle Breakout, Eyes $0.12 Target

MYX Finance has seen a significant surge in price over the past 24 hours, rising by more than 13%. This comes after the altcoin broke out of a triangle pattern on its 4-hour chart, breaching resistance levels at $0.07226.

The breakout was confirmed with a triple retest at $0.07226, and bulls on the Binance exchange were responsible for the move, with 75% of top traders long and only 25% short. The Long/Short ratio for all accounts, including retailers, stood at 3.357.

The Relative Strength Index (RSI) Divergence also signaled a bullish trend, with a rising reading of 76.58. However, bears were still present at around $0.09, which may be why MYX struggled to surpass this zone.

If the level is breached, however, the altcoin may surge to $0.12, which is its most recent lower high (LH). Beyond this point, the next significant area of supply sits at $0.1582.