MYX Finance has surged nicely in the last 24 hours - up 109% and volume has also jumped 300%. Such a big movement means it's not just a few traders, but genuine interest has been sparked in the market. When I looked at the chart, it’s clear that the price has strongly rebounded from the $0.196 support level, where buyers previously stood.

But there’s an interesting point here - open interest in the rally initially increased by 152% to reach $61.98 million, but now it has come back down close to $40 million. This indicates that leveraged traders have already started to reduce their positions. RSI went up to 69, showing how quickly buying pressure increased. And the token flow on the exchange is rising, meaning some are ready to sell to lock in profits.

The current price is $0.25, but it has fallen 5.46% in the last 24 hours. This seems like a normal correction after the rally. Overall, this rise was driven by leverage and volume, but now supply pressure is increasing. If the price can hold this level, the next move could be higher, otherwise some volatility will occur. Looking at CoinGlass data, it’s quite clear that whether this momentum is sustainable depends on whether buyers can stay strong in the coming hours.