I just noticed that MYX has surged quite a bit recently, and there’s interesting stuff happening behind the scenes. The volume exploded, signaling that it’s not just empty speculation, there are people really entering. But what caught my attention was the leverage increasing along with the price – the Open Interest jumped significantly before pulling back, showing that derivatives traders are quite active in this move.

The recovery started from a well-defined support around $0.196, and buyers defended that level strongly. From there, the price really started to rise, breaking out of the previous consolidation phase. The RSI shot up to 69, which means the move was quite aggressive and fast. Now the question is: will this leverage sustain or will things go south when people start taking profits?

What worries me is that exchange flows show tokens entering exchanges, suggesting some are ready to sell at higher levels. When you have increasing leverage combined with emerging supply, things get volatile. If demand slows down, it can turn around quickly. For now, the structure holds, but it’s a delicate balance between leveraged buyers and the supply that’s appearing.