- Yearn Finance coin price is seeing a bearish momentum on the daily chart. It might hit the low of $35k soon
- Technical indicators for YFI coin price suggest a bearish momentum in price . Meanwhile the YFI/BTC pair has seen a loss of more than 1.5% in the past 24 hours
YFI crypto price is currently in a bearish mode and can soon hit a low of $35k. Yearn finance price has observed a loss of more than 1.3% and is trading near the value of $36610. The volatility of YFI has observed a constant decline from the past few days. It has formed a supply zone on the daily chart. If the YFI coin price breaks down below the supply zone then a strong downside momentum in price can be seen. One can invest in YFI as per their risk adversity and price action scenario
Yearn finance is ranked 69th in the cryptoverse and has a market dominance of more than 0.08%. The asset price is down by more than 60% from its all time high. Volume to Market Capitalization ratio of Yearn Finance is near 0.1264 suggesting a downside momentum. If the ratio goes above 0.8 then a strong bullish momentum can be observed.
Technical Indicators Of YFI Crypto Suggests A Downside Momentum For Future
The weekly technical chart of the YFI highlights a bullish momentum in price for upcoming weeks. On the daily chart Yearn finance is showing a strong downtrend. The 50 and 100 Daily Moving Average of the asset is currently below the current price. The 100MA price is near the value of $3539, acting as a temporary support. YFI price may soon breakdown below the 100MA which can push the price further low.Resistance of YFI while going upwards can be observed near $45k. Meanwhile the support region on the price while going downside can be seen near the value of $30000. If the price breaks below $30,000 then a strong bearish momentum can be seen. YFI/BTC can see a breakout from the previous resistance in future.
Conclusion
YFI coin price is seeing a downside momentum on the daily chart but can soon revert to the new high. An investor should do their due diligence before investing.
Technical Levels
Major Support:$30000
Major Resistance:$45000