YFI/USDT: Further rise expected above 7470
---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
YFI/USDT: Further rise expected above 7470
Context
- The Global Crypto market leads by BTC and ETH reversed drawing a new bullish trend - YFI is actually trading range versus ETH, a new YFI outperformance can occur in the coming weeks
- We are watching at 17690 as upside target with strong conviction
- Watch 7470 as key Tactical support
Market configuration
- Graphical Elements :
Graphical Resistance = 17690 & 23570 / 43900
Graphical Support = 7470 & 4020
- Mathematical Indicators:
EMA ( Exp Moving averages) are now support at 10000 = Bullish
RSI indicator (below) is now above 50% without divergence = Bullish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B has been already reached = 4020
Fibonacci resistance of the wave in progress = 17690
Fibonacci support of the wave B = 7470 (10000 perfect buy level)
Fibonacci Bullish Target = 17690 and 23570
Conclusion
Preferred case => As long as 7470 remains support we are looking to buy the dip in the buying area (10000) in order to test and then surpass 17690, before opening a further rise towards the double bottom potential at 23570
YFI/USDT: Further rise expected above 7470
Context
- The Global Crypto market leads by BTC and ETH reversed drawing a new bullish trend - YFI is actually trading range versus ETH, a new YFI outperformance can occur in the coming weeks
- We are watching at 17690 as upside target with strong conviction
- Watch 7470 as key Tactical support
Market configuration
- Graphical Elements :
Graphical Resistance = 17690 & 23570 / 43900
Graphical Support = 7470 & 4020
- Mathematical Indicators:
EMA ( Exp Moving averages) are now support at 10000 = Bullish
RSI indicator (below) is now above 50% without divergence = Bullish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B has been already reached = 4020
Fibonacci resistance of the wave in progress = 17690
Fibonacci support of the wave B = 7470 (10000 perfect buy level)
Fibonacci Bullish Target = 17690 and 23570
Conclusion
Preferred case => As long as 7470 remains support we are looking to buy the dip in the buying area (10000) in order to test and then surpass 17690, before opening a further rise towards the double bottom potential at 23570
CIO & Head of market research (Automata - Akt.io)
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