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Yfianalysis

YFIUSDT.4HAs I meticulously analyze the YFI/USDT 4-hour chart, I observe several key details and technical indicators that inform my trading strategy. Current Market Position: The YFI/USDT price stands at $6,064, showing a slight decrease of 0.28% in recent trading. The market is currently situated near the middle of the defined support and resistance levels, providing a mixed outlook. Trend Analysis: The price movement over the last few weeks shows a pattern of consolidation between key support and resistance levels. This consolidation suggests that the market is in a phase of indecision, with traders and investors gauging direction from upcoming market cues. Support and Resistance Levels: S1 at $5,259 and S2 at $5,825: These levels represent significant support zones. A drop towards these levels could indicate a buying opportunity, especially if the price shows signs of stabilization or bullish reversal signals near these points. R1 at $6,392 and R2 at $7,009: These are the resistance levels to watch. A breakout above R1 could signal a bullish trend, with R2 as the next target for taking profits. Technical Indicators: Relative Strength Index (RSI): The RSI is at 58.94, slightly above the neutral 50 mark, indicating a mild bullish sentiment in the short term. This level suggests some upward potential but also warrants caution as it approaches overbought conditions. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line, which supports the bullish sentiment shown by the RSI. However, the closeness of the two lines suggests that the momentum is not strongly bullish, indicating possible fluctuations or a reversal if bearish pressure increases. Volume Analysis: The volume trend is not depicted but is crucial in confirming any potential price movements. An increase in volume on upward price movements would affirm stronger buying interest, while high volume on downswings could signal strong selling pressure. Strategic Trading Insights: Given the consolidation phase indicated by the chart, my strategy would be to watch for a breakout above R1 ($6,392) for a potential bullish entry, setting a target near R2 ($7,009) while maintaining stop-loss orders just below the recent lows near S1 ($5,259). Conversely, if the price breaks below S1, I would reassess the bearish potential, possibly positioning for a short if further bearish indicators confirm. Conclusion: In conclusion, YFI/USDT presents a balanced scenario with potential opportunities on both the upside and downside. Traders should remain vigilant and responsive to price actions near the key support and resistance levels. Monitoring the accompanying volume and further developments in technical indicators will be essential to effectively capitalize on this market's dynamics. As always, maintaining disciplined risk management strategies is vital to safeguard investments in such a volatile environment.
by MarsSignals
YFI (Yearn.finance) Token Analysis 15/03/2021Fundamentals: Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming. Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders. Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI. Yearn.finance set out to simplify DeFi investment and activities such as yield farming for the broader investor sector. The platform makes use of various bespoke tools to act as an aggregator for DeFi protocols such as Curve, Compound and Aave, bringing those who stake cryptocurrency the highest possible yield. New features continue to be rolled out, these aiming, among other things, to help preserve the long-term value of the platform. Yearn.finance makes a profit by charging withdrawal fees, currently 0.5% at the end of September 2020, as well as 5% gas subsidization fees. Due to its governance model, these can technically be changed by consensus at any time. The target market for yearn.finance is investors who do not have the time to study the increasingly complex DeFi phenomenon from scratch, or who wish to optimize their returns. Yearn.finance is the brainchild of Andre Cronje. After leaving the iEarn project in February 2020, Cronje returned to oversee a rebirth, with new tools emerging and YFI going live in July. Since then, its fortunes have turned around, with assets under total value locked coming in at just over $1 billion as of the end of September 2020. Cronje has a long career in cryptocurrency and has become synonymous with DeFi in particular. He also has positions at smart contract ecosystem Fantom and CryptoBriefing, a resource dedicated to initial coin offerings (ICOs) and crypto media. Technical Analysis: as you can see the price is Rallying in a PitchFan and there exist a Hidden Bullish Divergence between the Price and MACD Histogram which is the sign of trend continuation. there are total of 2 Targets specified by the Fibonacci projection of the initial wave and their confluences with the PitchFan levels.
Long
by BitonGroup
4
YFI - 12h. Update of the historical high and correction to 33000After the update of the historical high, the BTC price stop had a positive effect on the YFI market. Yesterday's attempt by BTC sellers to start the correction did not greatly affec t the price of YFI . On the contrary, buyers today have managed to update the historical high and show their willingness to continue the price movement in the white wedge. From November 19, buyers can not break the upper trend line of the wedge. Buyers broke the mark of $ 40,000 and tested an important range of $46,500-48500 . There will be a serious struggle in this critical range, as the next medium-term price movement will be decided. If buyers are unable to break through this range, there is a risk of starting a global correction with a final target of $21000-22000. The first stop is at $33,000 Otherwise, the growth trend will accelerate. ____________________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics!
by P_S_trade
16
YFI-4h. Buyers have a chance to test $ 43,000.A few steps were not enough for YFI buyers to test the historical high. After a grueling price consolidation at $30,000 , buyers were able to set a new local high of $39,930. Of course, this is good news. However, after 50 days of consolidation , buyers managed to grow by only 50% . If you look at the dynamics of YFI price growth from November 5 to 19, it becomes clear that buyers do not have enough strength for a new aggressive wave of growth. The YFI price has tested the upper trend line of the wedge , in which the price has been trading since the beginning of November. Buyers are now trying to consolidate above the previous strong level of $30,000. If buyers fail to break the $43,000 mark , the probability of a reversal of the growth trend and the test of the $20,800-22,000 range will increase significantly. The global level that YFI holds remains unchanged at $18,000 . Continuing the downward wave in the BTC market to the $26,000 mark will help YFI sellers test this mark. The situation is tense. You need to be extremely careful: __________________________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics!
by P_S_trade
4