A breakdown + plan for trading MYX (MYX Finance) on Binance today, with technical levels, possible setups, and risk points. Use this as a guide, not a certainty.
#CryptoNewCoinSwingTrade #IfYouAreNewToBinance
🔍 What the current situation looks like
From recent analyse
MYX has had a huge run-up — large gains in a short time.
Because of that, many analysts warn of overbought conditions, possible pullbacks, or corrections.
Key resistance appears around $18.50-19.00; support zones are seen at $16-17, then further down at $14-15.
Volume is high, signaling attention and momentum, but that also means risk of fast moves if sellers come in. Binance+2CoinGecko+2
⚙️ Trade setups / Strategy for Today
Here are possible ways to swing trade / day trade MYX, depending on your risk tolerance.
SetupEntry TriggerStop-LossTake Profit / Target(s)NotesPullback & Support LongWait for price to dip into the support zone $16.00-$17.00 (shows signs of bouncing: bullish candles, volume spike).SL just below this support, maybe ~$15.50 or slightly lower, depending on how much risk you accept.TP1: ~$18.50-19.00 (resistance). If breakout above that, TP2 could stretch to mid-$20s if volume holds.Good risk/reward here if you enter near support; avoids chasing the top.Breakout LongIf price breaks above $18.50-19.00 resistance with strong volume, enter long on breakout.SL just under breakout level, or under nearest support (e.g. $17.50-18.00).TP1: ~$22.00-24.00. TP2: higher if momentum continues.Be careful: breakouts often get tested (retested from above) or faked. Confirm squeeze / volume before entering.Resistance Short / RejectionIf price gets near the resistance zone ~$18.50-19.00 and shows rejection (bearish candle, divergence, weakening volume).SL above resistance, e.g. a little above $19.50-20.00 depending on how aggressive.Target down toward $16-17 first, then possibly $14-15 if weakness increases.Only for more aggressive traders. High risk because market may continue bullishly. Use small position size or partial profits.
⚠ Risks & What to Watch closely
Overbought indicators: RSI, etc., are likely already up very high — meaning pullbacks are quite possible.
Token unlocks /supply dilution: Some analyses warn about upcoming unlocks that may add supply to the market and cause selling pressure.
Whale / institutional flows & manipulation risk: Rapid moves often attract sharp reversals if large holders sell.
Volatility: Big swings both up and down in short timeframes. SP (stop-loss) discipline is important.
Volume confirmation: Breakouts without strong volume tend to fail or reverse.
