Crypto Movers: MYX Finance and Worldcoin Lead Rally, Story Faces Reversal Pressure

I've been watching the crypto market like a hawk lately, and boy, is it heating up! MYX Finance, Worldcoin, and Story have been absolutely dominating the crypto space over the past 24 hours. Worldcoin just smashed its 8-month high while MYX Finance has entered price discovery mode with plenty of room to run. Story, however, might be getting a bit ahead of itself in overbought territory.

MYX Finance: More Upside in Sight

MYX Finance jumped another 8% on Wednesday, building on Tuesday's 2% gain. This DEX token has been on an absolute tear this week, with a mind-blowing 340% cumulative gain. Tuesday saw it hit an all-time high of $18.50.

The token is targeting the $17.60 mark, which represents a 1.272 Fibonacci extension from Saturday's low of $1.13 to Monday's close at $14.08.

Daily momentum indicators are screaming overbought. The RSI is hovering at 96, while the MACD and signal lines continue their gradual ascent, suggesting strengthening bullish momentum.

If it fails to hold $14.08, we might see a pullback to the 78.6% Fibonacci retracement level at $11.31.

Worldcoin: Maintaining Bullish Trend

Worldcoin's trading above $2 on Wednesday, up 6% for the day. This ID token has climbed for six consecutive trading days, surging 93% weekly, largely triggered by Eightco's announcement of a $270 million WLD treasury.

WLD is trading above the 61.8% Fibonacci retracement level at $1.96, calculated from the December 6, 2024 high of $4.19 to the April 7 low of $0.57. A clear daily close above this level could extend the rally to the 78.6% retracement at $2.73.

Adding to the bullish case, a golden cross has formed with the 50-day EMA crossing above the 100-day EMA, signaling strengthened short-term upward momentum.

Daily momentum indicators suggest caution though. While MACD and signal lines continue their linear ascent with expanding green histograms indicating strong buying momentum, the RSI at 85 has flattened in overbought territory, hinting at possible reversion.

If WLD fails to hold the 61.8% retracement at $1.96, it might retest the 50% retracement at $1.55.

Story: Risk of Topping Out

Story dipped 1% on Wednesday after Tuesday's massive 22% surge. This IP token has maintained an overall uptrend since breaking out of a falling wedge pattern in mid-July.

Yesterday's intraday pullback from the all-time high of $11.83 suggests profit-taking and overhead pressure. If the correction deepens, it could retest the pivot point R1 at $9.56, which has flipped to support.

Daily momentum indicators have flashed overbought signals. The RSI at 75 remains above the overbought zone, indicating heightened risk of trend reversal.

Yet, MACD and signal lines show consecutive expansion of green histograms, pointing to gradually increasing bullish momentum.

If Story clearly breaks above R2 at $11.17, the upside momentum could extend to R3 at $13.24.