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YFI to 35k - How long will it take to get there?YFI has shown its Bullish potential over the last week, as price has bounced off the MA50 on the 1D chart, and the MA50 crosses up and over the MA100 on the 4HR chart. Currently it is at the top of the Keltner Channel, signifying a correction. We may not have a big enough bounce off the MA50 to keep us out of danger in the short term, so we could see another drop back down to areas of higher support, and a consolidation. MACD crossover shows it favors the Bulls, which was what brought the token into gains of over 100% recently. RSI is at 59, which is a perfect buying zone to be in, as this increases to 70s or 80s we will dip into the overbought zone and have our potential correction. Otherwise, if this does play off the MA50, we should see it reach the goal in a shorter timeframe. 35k is not the end, just the level that YFI needs to become relevant in mainstream. There was a lot of buying pressure recently, as YFI dipped down to 8k, which saved it from further danger. But its not out of the woods yet.
BINANCE:YFIUSDLong
by Shwayze
14
YFI Is Dropped 54% And Still More Drop AheadHey friends, hope you are well and welcome to the new update on YFI token. As in my previous post, I told you even I warned that the price action of YFI token can be crashed upto 90% more. And sofar it has dropped more than 44% in USD market and 54% in Bitcoin market. Below two basic reasons were base of my prediction for the drop. 1. The formation of the head and should pattern. 2. The formation of final leg of bullish butterfly pattern was expected YFI token in USD market and in Bitcoin market as well. Formation of bullish Butterfly in USD market: Formation of bullish Butterfly in Bitcoin market: At this time it can be observed that the priceline of YFI token has last support at $4684 in US Dollar market as below: At the same time the price action of year.finance has the Last support at 0.40140 in the Bitcoin market as below: On the 12 hr chart the price action of YFI token has also formed a double top and turned more bearish. On daily chart it can be observed that the MACD is turning bearish and the Stochastic has given bear cross. And EMA 10 has formed bear cross with EMA 21. Now even though the priceline has entered in the potential reversal zone of bullish Butterfly but we can wait for EMA 10 to cross up the EMA 21 before placing our buying orders. And also wait for the indicators to give bullish signals. Conclusion: The YFI token is very strong bearish and can move more down from here but at the same time it is in the potential reversal zone of butterfly as well. Therefore we need to keep an eye on different indicators and signals carefully before placing the buying orders. Because even though the bullish Butterfly can produce upto 1600% big bullish rally but the potential reversal zone is also very wide.
Short
by moon333
YFII Again Rejected By Resistance | Was It A Bull Trap ???Hey friends, hope you are well and welcome to the new update on YFII token. Previously the price action broke down the support of the pennant on daily chart. But in a very next candlestick we can observe a powerful buying volume therefore while re-testing the previous support as resistance the price action of DFI.Money re-entered in pennant. Finally the price action of YFII token also broke out the resistance of this pennant. But the priceline is still below the exponential moving averages with the time period of 10 and 21. For confirmation of the change in trend from down to upside we need crossing above these EMAs 10 and 21 and a bull cross between these EMAs as well. In my previous post we have seen that on small time period 4-hour chart the priceline of YFII token broke down all simple moving averages with the time period of 25, 50, 100 and 200 and there was a big distance between all these moving averages and the candlesticks. At the moment the price action is again breaking out the 25 SMA and soon it can also breakout the other simple moving averages as well. For complete trend change from down to up we need the closing above all these SMAs. On daily chart the price line is also completing final leg of bullish Butterfly. But the priceline cannot complete this leg because if we see the trader’s interest as per volume profile of complete price action of this butterfly. Then it can be clearly observe that trader’s has no interest to trade below $800 and this can be last support as well. The priceline has also a very strong resistance at $2600. In my previous article I also mentioned this resistance and now the priceline is rejected by this resistance. So the previous short rally to the upside worked as a bull trap for many traders. However the priceline is moving with the pivot 1st support and point of control of the volume profile. Conclusion: The priceline is moving with pivot 1st support and point of control of volume profile therefore is the priceline would be moving here sideways and in the meanwhile if it will cross up the EMA 10 and 21 on daily chart and simple moving average 200 on 4 hour chart. Then it can be possible that the trend will be completely changed from down to up side. And if the volume profile will start showing interest of traders below the $800 level in coming days then more drop can be possible as well.
by moon333
2
YFI - S/R Flip testLet's see how it goes. Was stopped out on the last one trade. Do not plan to open a new one until $12k (the next support) or above $21k. To be bullish again it needs daily close above $21 at least. On the other hand, considering a small coin supply (this includes locked tokens in yGov, Vaults and other farms) it's kinda hard to predict the next move using TA only. Hit the "LIKE" button and follow to support, thank you! Information is just for educational purposes, never financial advice. Always do your own research.
by Bitduke
3
Opening A YFI Short PositionWell it doesn't look too good for YFI currently. The head and shoulder pattern has completed and it looks like it will take the price down for the next couple of weeks. $16,600 is the first support I'm looking at. That head and shoulders is a nasty one and I would not be surprised if the YFI price dropped all the way down to $4,000. I have my marks on the chart. Be careful with your holdings and as always, Have fun trading! This is not financial advice.
Short
by DoYouMine
2
YFI may go up from here..when bitcoin's dominance is moving up fast and we have a bearish market it isn't seems right to analysis altcoins like this one but anyway i tried to find out what will happen to yfi for practice..i have two scenario according to bitcoin's move, if BTC continue correction i expect RED ARROW's path so it will support on 16800 and if btc stop correction i will wait for the GREEN ARROW's path and a bullish move to 34k...(also can you see possible head & shoulder like me?) and btw i'm writing a guide for read my chart below: YELLOW VERTICAL LINES are possible timelines those are where i think waves can start or end.. BLACK LINES are resistance and supports that i got from GANN tools.. ORANGE LINES are fibbonacci retracement GREEN and RED zones are where we have powerful support... everything else is clear i guess... note that this chart is a practice I'M NOT TRADING in this market right now please don't consider this as a financial advice please like and comment if you're agree with me
by hesamh
Yearn.finance Price Prediction: YFI Has A Clear Path To $40,000 Yearn.finance freefalls to $21,455 after support at $28,000 failed to hold. YFI turns bullish bringing into the picture the impact of a double-bottom pattern. Yearn.finance is bleeding, just like many other cryptocurrencies in the market on Tuesday. A bearish wave on Monday swept across the market, further increasing the sell signals that have continued to linger in the last couple of weeks. Note that YFI traded all-time highs of $44,000 before embarking on a gains-trimming exercise. There have been multiple attempts to keep the DeFi token above $30,000 but selling pressure was just too great for the bulls to bear. The most expensive cryptoasset hit below other tentative support areas including $28,000 and $24,000. The last blow on Monday extended the bearish leg toward $20,000 but a weekly low was traded at $21,455. At the time of writing, YFI has resumed the uptrend and is trading above $24,000. The gains come following the impact of a double bottom pattern. This pattern is used in technical analysis to identify strong demand zones where a reversal is likely to begin following an extended breakdown. Double-bottom patterns tend to provide an estimated target to the upside. In this case, Yearn.finance is likely to rally above $30,000 and even draw closer to the critical $40,000 level. Its bullish case is supported by the Relative Strength Index (RSI) as it recovers above the oversold. In addition, IntoTheBlock IOMAP shows that the path to the north is relatively smooth but a strong resistance should be expected at $27,169 - $27,893. On the flip side, support is not strong enough, hence the chances of YFI retuning to $20,000 remain high. Therefore, buyers must work the bullish case through to avoid a devastating slide to levels around $20,000. Yearn.finance Intraday Levels Spot rate: $24,715 Relative change: 770 Percentage change: 3.30% Trend: Bullish Volatility: Expanding
BINANCE:YFIUSDLong
by CoinGape
2
YFI in a 6-Day 🐂 Flag!YFI is in a Bullish flag that is about to retest the downtrend line of the flag, roughly testing $38.250 - 13% If the downtrend line breaks, I expect a peek at least to $42.000, so that can be the second TP - 24%. IF the price of YFI breaks the $42.000, I expect to rise all the way to $45.000 (33%) and if this level is also broken, maybe even $50.000 (47%). RSI has found support and is forming new higher high. MACD is giving first tick of buying wave. Price found support at 200EMA. We are in a 6-day bullish pattern called Bull Flag . The setup is invalid if the price breaks below $29.000, that would mean over 10% loss. And remember not to get too greedy, there are many other good alt coin trade opportunities. All the best! Tibor
Long
by TiborVrbovsky
8