Yearn.Finance (YFI) value evaluation: The break is over, time for a brand new prime

  • The YFI price is moving in an upward channel and has reached its support
  • YFI price above previous high

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YFI price, which has been trading in an upward channel for the past three months, is now hovering at the support of the previous high (changing polarity). The market cap and 24-hour volume of the coin are $ 954,009,009 and $ 81,362,584, respectively.

YFI Awards – Do the Bulls Have the Strength to Make a New Top?

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The YFI price is at the vertex of a symmetrical triangle. Breaking out of this triangle could cause the bulls to return and push prices to new highs, while a decline could cause the coin to fall. Prices are currently doing doji candles, indicating indecision.

The 10EMA and 20EMA limit prices to $ 30,100 and $ 28,300, respectively. The 50EMA offers support for $ 28,300. The VWAp acts as a resistance for intraday time frames for the prices of $ 29,683.

The Bollinger Bands represent a consolidation as the upper and lower bands are sideways at the price level of $ 32,250 (resistance) and $ 27,850 (support), respectively.

The RSI makes a double bottom with the 42-43 levels, which has not brought a significant buy in the coin. The RSI is padded in the 38-42 zone.

The MACD (8,21,5) rests at the 0 levels, which could support the lines and trigger a buy signal through a bullish crossover. A buy signal could lead the indicator lines towards 3000 levels.

Conclusion –

YFI price is consolidating at the apex of a symmetrical triangle that is above the previous high, suggesting that the last of the bulls are still intact. YFI prices could break out of current levels and hit new highs, while a breakdown could lead the coin to the downside

Support: $ 28,800- $ 29,000 (horizontal support and 50 EMA)

Resistance: $ 32,000 (horizontal resistance)

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