Buy Bitcoin here
  • Crypto
    • Bitcoin News
    • Ethereum
    • Altcoin
    • Blockchain
    • Blockchain Companies
    • Cryptocurrency Exchanges
    • DeFi
    • Regulation
    • Cointelegraph news
    • Press Release
    • ICO News
      • ICOs Review
      • Upcoming ICOs
      • Scam
  • Education
    • CryptoTicker Starter Kit
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
    • Events Review
  • Prices
  • Exchange Comparison
  • Newsletter subscribe

  • News

    • Bitcoin News
    • Altcoin
    • Regulation
    • Blockchain Companies
    • Blockchain
    • Cryptocurrency Exchanges
  • News

    • Ethereum
    • Events Review
    • ICO News
    • Press Release
  • Education

    • CryptoTicker Starter Kit
    • Education
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
  • Cryptoticker

    • About us
    • Advertise
    • Media Kit
    • Submit your Press Release
    • Contact
    • Membership Login
  • Social Media

    Facebook Twitter Telegram Youtube
    • Newsletter
  • Crypto
    • Bitcoin News
    • Ethereum
    • Altcoin
    • Blockchain
    • Blockchain Companies
    • Cryptocurrency Exchanges
    • DeFi
    • Regulation
    • Cointelegraph news
    • Press Release
    • ICO News
      • ICOs Review
      • Upcoming ICOs
      • Scam
  • Education
    • CryptoTicker Starter Kit
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
    • Events Review
  • Prices
  • Exchange Comparison
Starter Kit Membership Search
English
English Deutsch
Menu
Search


DeFi TradingView YFI YFI

YFI Price Poised For A Steeper Correction After Bearish Breakout

Posted On October 5, 2020 Lorenzo Stroe 0

  • share 
  • share 
  • share 
  • tweet 
  • share 
  • share 

YFI price had one of the best crypto runs in history. The new and innovative DeFi project was listed on some of the best exchanges including Binance after a massive rally from low prices of down to $50 to an amazing peak at $40,000.

YFI managed to reach a $1.2 billion market capitalization in just one month and a half of trading. The low circulating supply of only 29,968 is one of the most attractive features of the digital asset.

Yearn Finance Price Bearish Reversal

On the daily chart, the price of YFI has formed a clear head and shoulders pattern which is a reversal bearish indicator. The neckline was established at around $20,000 which was broken on October 3 and had some continuation the next day.

yfi price

YFI/USDT Daily Chart – TradingView

The price of YFI is currently $19,580 after bulls have attempted to bounce back up, however, this doesn’t invalidate the bearish breakout.

In the short-term, the next price target for the bears could be $11,000. Before that, the daily RSI could get overextended and a dead cat bounce could happen. Nonetheless, bears are in full control right now.

Bulls will need to climb above $20,200 and see a lot of continuation to invalidate the head and shoulders breakout. The 12-EMA at $23,285 would act as a strong resistance level if the bulls can come on top.

It’s important to note that there was a huge spike in trading volume on October 4 after the bulls managed to push YFI above $20,000 from a low of $15,900.

yfi price

On the other hand, it seems that several YFI whales are sending their tokens to exchanges to either sell or get ready to sell. Both options signify an increase in selling pressure in the short-term.

Can YFI price Recover?

yfi price

YFI/USDT 4-Hour Chart – TradingView

On the 4-hour chart, the outlook for YFI is a bit more positive with bulls setting a higher low at $17,500 compared to $15,993. If the price can establish a higher high above $20,249, the bulls would confirm an uptrend.

The 12-EMA has turned into a support level already and YFI is now aiming for the 26-EMA at $20,386.

The next few resistance levels are established at $21,487, at $24,792 and all the way up at $26,229.

Follow CryptoTicker on Twitter and Telegram for daily crypto news and price analyses!

  • share 
  • share 
  • share 
  • tweet 
  • share 
  • share 

It is super easy to buy Bitcoin. Just take a look at our exchange comparison!

 

This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

#YFI



You might also like

Crypto TradingView YFL

Yearn.Finance Price Prediction: YFI Turns Bearish, Targets $18,000
December 11, 2020
Altcoin Crypto DeFi TradingView YFI

How to Invest USD 1,000 in cryptocurrencies – Top 3 Altcoins to start 2021
December 8, 2020
Crypto TradingView YFI

Yearn.Finance Price Prediction: YFI is on the verge of a 20% breakout
December 4, 2020

More from DeFi

Ethereum Nears ATH As CME Futures Approach, Here’s What Follows!
Posted On January 20, 2021 Taha Zafar 0

In a long awaited event, Ethereum is finally nearing it's previous all time high (ATH) figure of $1448 (CoinGecko data) …

What Is DeFi? – A Beginner’s Guide To 5 Core DeFi Protocols
Posted On January 19, 2021 Taha Zafar 0

Decentralized Finance (DeFi) protocols have come a long way from a few scattered vaguely known projects to multi-billion giants. …

What Is DeFi? – A Beginner’s Guide To Decentralized Finance
Posted On January 16, 2021 Taha Zafar 0

What is DeFi? An alternative to the traditional finance, Decentralized Finance is an emerging blockchain based field, based on the …

In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you


  • Top Broker

    Bybit
    bybit
    Review · Visit
    Plus500
    Plus500
    Review · Visit

    Top Exchanges

    Kraken
    Kraken
    Review
    Coinbase
    Coinbase
    Review · Visit
  • Newsletter subscription




  • News

    • Bitcoin News
    • Altcoin
    • Regulation
    • Blockchain Companies
    • Blockchain
    • Cryptocurrency Exchanges
  • News

    • Ethereum
    • Events Review
    • ICO News
    • Press Release
  • Education

    • CryptoTicker Starter Kit
    • Education
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
  • Cryptoticker

    • About us
    • Advertise
    • Media Kit
    • Submit your Press Release
    • Contact
    • Membership Login
  • Social Media












    Newsletter


  • Imprint
  • Privacy Policy
  • Non-liability Disclaimer
©2021 CryptoTicker

Share

Share stories you like to your friends