MYX and STRK big pump 20% in a single day, is the alts season here?

MYX Finance and Starknet surged over 20% on October 8, with volume quadrupling, igniting market discussions about the altcoin season. However, prices retreated on October 9. As Bitcoin approaches its all-time high, funds are flowing into mid-cap alts, but is this the beginning of a new bull run or just a flash in the pan before consolidation?

the explosive growth momentum of alts

In the past 24 hours, the cryptocurrency market has become active again. Bitcoin continues to rise, approaching its historical peak, while the two major mid-cap alts MYX Finance (MYX) and Starknet (STRK) have both surged over 20%, reigniting the debate about the potential arrival of "altcoin season."

This sector rotation can be explained by the reallocation of capital: when Bitcoin enters a consolidation phase, investors turn to more volatile assets to maximize returns. Mid-cap stocks are positioned between blue-chip stocks and micro-cap stocks, achieving the best balance between risk and performance.

MYX and STRK Key Data Overview

The signs of capital rotation are obvious

On-chain analysis shows a significant increase in volume, indicating that institutional investors are accumulating, and the interest of whale investors is also rising. The current target for MYX is the $0.35 region, while the target for STRK is $0.95, both of which represent significant technical resistance levels on daily and weekly time frames.

Three main reasons for the appeal of mid-sized alts:

Risk-reward ratio optimization: Positioned between blue-chip coins and micro coins, with moderate volatility but significant upside potential.

Sufficient liquidity: Compared to micro coins, there are better entry and exit conditions.

Clear narrative: Most mid-cap coins have a clear product or technology roadmap.

However, caution is still crucial: Without sustained volume and continuous buy orders, these rebounds could turn into bull run traps. Therefore, the market may still undergo a consolidation phase before alts gain new upward momentum.

MYX Finance: In-Depth Technical Analysis

(Source: Trading View)

MYX Finance's price trend since August last year perfectly illustrates the typical structure of an asset in a major upward trend: after consecutive breakthroughs, it enters a horizontal consolidation phase to absorb profit-taking and build new support levels. The recent pullback has indeed raised reasonable concerns among holders, but the strong performance of Bitcoin has triggered a chain reaction that helped it regain strong bullish momentum.

First, the price is currently trying to verify a pattern that could become a textbook V-shaped recovery. Although this pattern is visually striking, it requires volume to confirm, which we have not fully observed yet. The current buying volume, while increasing, is still below the peak levels seen during the breakout in August and September. This price-volume divergence constitutes a dangerous signal that needs to be monitored closely.

Key Technical Observations for MYX:

Bullish signals:

· The price structure shows a typical upward trend.

· Regain momentum after a pullback

· Bitcoin strongly drives sector rotation

· Various indicators are beginning to converge

Warning Signal:

· Volume has not yet confirmed a breakout

· Be cautious of price-volume divergence

· Still need to break the key resistance at 8.4 USD

If MYX successfully breaks through the key resistance level of 8.4 USD, the technical signals will be clearly bullish, and it is expected to break through new highs around 20 USD. Various indicators are converging: momentum is strengthening, and savvy investors know that the real trend may not have started yet.

MYX Price Scenario Forecast:

Optimistic Scenario (Probability 40%):

· Break through the 8.4 USD resistance

· The volume continues to expand

· Target price: 20 dollars

· Potential increase: +138%

Neutral Scenario (Probability 35%):

· Consolidating around $8.4

· Waiting for more buy orders to enter

· Consolidation period: 2-4 weeks

Cautious Scenario (Probability 25%):

· Failed to break resistance

· Backtest the support below

· Need to re-accumulate momentum

Starknet (STRK) enters the top 100

(Source: Trading View)

The price of Starknet experienced a sudden surge, accompanied by a large influx of buying, with volume jumping from $55 million to over $280 million, a fourfold increase. After a rebound in June, the price consolidated between resistance and support levels until a strong breakout occurred at the beginning of the fourth quarter.

The STRK price has now broken through the parallel channel and found support at the 200-day moving average. Bears are attempting to push the price below this level, but technical indicators suggest there is still a possibility for further upside. The RSI is trying to stay in the overbought zone while showing a potential bearish divergence.

Key Technical Elements of STRK:

Bullish Advantage:

· Break through the upper track of the parallel channel

· Hold above the 200-day moving average ($1.78)

· Volume surged by 409% confirming the breakthrough

· Market cap ranking enters the top 100

Risks to be aware of:

· RSI is approaching the overbought zone

· A bearish divergence may occur

· Short-term profit taking pressure

· STRK price path chart

Therefore, if the price continues to stabilize around the 200-day moving average (1.78 USD), it may form a solid foundation, driving a rebound to the resistance area between 1.88 USD and 1.92 USD, and then break through 2 USD.

STRK Key Price Strategy:

Is the altcoin season really here?

Does the strong performance of MYX and STRK mean that the altcoin season has officially begun? There are two viewpoints in the market.

Bullish Arguments:

Capital rotation is clear:

· Bitcoin is entering consolidation, with capital outflow.

· Medium-sized coins are the first to launch

· On-chain data shows whales are accumulating.

Technical Support:

· Multiple alts break through key resistance

· Volume accompanies the rise

· Market sentiment turns optimistic

Historical Rules:

· Every bull run has its altcoin season

· Bitcoin usually initiates 2-4 weeks after reaching a new high.

· The current time point matches the historical pattern.

Bearish Arguments:

Lack of Sustainability:

· Volume not yet fully confirmed

· There is a risk of price-volume divergence.

· It may just be a short-term rebound.

Macroeconomic uncertainty:

· Global liquidity has not yet fully loosened.

· The regulatory environment still has variables.

· The market may need more time to digest.

Technical Warning Signs:

· RSI mostly enters overbought zone

· May form a bull trap

· Need to consolidate and digest the profit positions

Investment Strategy Recommendations

Conservative Investors:

· Wait for clear breakout confirmation

· Pay attention to whether the volume continues to expand.

· Set strict stop-loss (10-15%)

Aggressive Investor:

· You can position small amounts in medium coins

· Build positions in batches to reduce risk

· Single coin type should not exceed 5% of total funds

Key Observation Indicators:

· Can Bitcoin stabilize at a high level

· Is the market capitalization ratio of alts increasing?

· Changes in the volume of alts traded on mainstream exchanges

· Is DeFi TVL growing in sync?

· Three Necessary Conditions for the Alts Season

Historical experience shows that a real altcoin season needs to meet three conditions:

1. Bitcoin Stable Consolidation

· Bitcoin volatility decreases

· The consolidation period lasts at least 2-3 weeks

· Funds have time to look for new targets

2. Volume continues to expand

· Not just a one-day spike in volume

· Need to maintain high volume for 5-7 consecutive days

· Continued inflow of capital from the OTC market

3. Sector rotation is clear

· Funds are flowing from large-cap to small-cap.

· Different tracks take turns performing

· Individual stock market trends are flourishing.

At present, the first condition is close to being met, but the second and third conditions still need to be observed.