MYX Finance (MYX) has gone up by nearly 6% in the past 24 hours as the token has managed to stay above the $3 level after the project announced the upcoming launch of a V2 version of its DEX.
In an X post published just a few days ago, the head of product for MYX Finance stated that they have been working on this new version to further fine-tune their zero-slippage perpetual futures trading platform.
Understanding and mastering a product is crucial. Successful people always stand out through their attention to detail — that’s where real insight lies. You should take a moment to think about what MYX can truly bring you.
If memecoins are known for their efficient token issuance…— MYX.Finance (@MYX_Finance) December 9, 2025
The date of the release has not been set yet. However, the market seems to be excited about the news.
According to data from CoinMarketCap, MYX Finance is the 24th largest decentralized exchange for derivatives in the crypto space – out of a list of 28 platforms tracked by the website.
Its 24-hour trading volumes currently sit at $280 million. However, its open interest stands at just $1.6 million. This latter metric indicates the number of outstanding futures contracts on the platform at the time.
The launch of the V2 could propel both of these metrics, and MYX Finance seems to be opting to focus on making meme coin trading both permissionless and cheap for operators. Achieving this might turn MYX into one of the next cryptos to explode.
MYX Price Analysis: Bullish Breakout Above $3 Could Push MYX Back to $15
The daily chart shows that MYX has been experiencing significant compression in the past few days upon bouncing off the $2 support level.
However, the selling pressure increased as the token hit $3 and ultimately pushed MYX back into a tight range. This level coincides with the 200-day exponential moving average (EMA), which increases its technical relevance.
Compression patterns tend to indicate that market forces have agreed on a fair value for the asset. Nonetheless, new catalysts can rapidly change the trajectory of the price action. Hence, big moves after compression patterns tend to be a strong confirmation of the direction that the asset will take next.
A bullish breakout out of $3 could catch bears off guard and prompt a massive squeeze that could propel the token to $4.5 at least.
Meanwhile, if positive momentum accelerates as a result of the upcoming launch of V2, we could see MYX rising back to $15 shortly.
The Relative Strength Index (RSI) has been on an uptrend since late October. These technical indicators seem to confirm that MYX has entered a phase of accumulation, as late buyers may have started to scoop up the token after its latest big drop.
Above-average trading volumes would confirm a successful breakout above $3. However, if the price drops below $2, MYX may suffer an even stronger setback that could push it back to $1 or lower in the next few weeks.
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