The recent crash in Bitcoin prices has sparked a wave of bearish sentiment across the cryptocurrency market. As volatility intensifies, both MYX Finance (MYX) and Pump.fun (PUMP) have captured the attention of traders, currently testing significant technical levels that could dictate their price movements in the coming hours.
MYX Finance is presently trading around $2.40, positioned near a support range between $2.20 and $2.30. This area has historically served as a stabilization point, making it a critical level to observe. A rebound from this zone could shift market sentiment positively, although momentum indicators present a mixed picture, with trading volumes indicating cautious participation.
Key technical levels for MYX Finance include:
- Immediate Support: $2.40 – $2.25
- Secondary Support: $1.60
- Near-Term Resistance: $3.50 – $4.00
- Breakout Trigger: $5.98
- Bullish Target: $8 to $10
- Bearish Target: $2.00 if support fails
A strong breakout above $3.50, accompanied by increased volume, would signal a shift away from the current consolidation phase, potentially leading to targets near $6 and beyond. Conversely, breaching the $2.40 support could result in a deeper price correction towards $2.00, particularly if the broader market sentiment deteriorates.
For the next 24 hours, the outlook for MYX Finance appears as follows:
- Base case: $3.25 – $3.60 range
- Upside potential: $4.00
- Downside risk: $2.00
On the other hand, Pump.fun exhibits a more volatile setup, influenced by active community engagement and strategic buyback announcements. Currently, PUMP is trading within a range of $0.0038 to $0.0050, just beneath a descending trendline that has limited recovery efforts this past week.
Key levels for Pump.fun are outlined as follows:
- Immediate Support: $0.0025
- Critical Support: $0.0022
- Breakout Resistance: $0.0052 – $0.0055
- Upside Targets: $0.0072 – $0.0090
- Breakdown Target: Below $0.0015
A break above $0.0031 to $0.0032 would shift the short-term outlook to bullish, possibly triggering a swift rally towards $0.0035 to $0.0037, especially if accompanied by increased trading volume and accumulation by larger investors. However, failing to hold above $0.0025, followed by a drop below $0.0022, would heighten the likelihood of further declines.
Looking ahead, the projected range for Pump.fun over the next 24 hours is:
- Base case: $0.0031 – $0.0040 range
- Upside potential: $0.0052 – $0.0055
- Downside risk: $0.0020
In conclusion, both MYX Finance and Pump.fun are positioned at pivotal technical junctures. MYX exhibits a neutral to cautious tone, requiring a high-volume breakout above $4 to regain upward momentum. Conversely, Pump.fun showcases a more dynamic setup, with a clear breakout above $0.003 potentially unleashing substantial upward movement. Price action in these tokens will likely hinge on volume fluctuations, the activities of major investors, and overall market sentiment in the immediate future.
