- The YFI coin chart shows a bullish growth in a parallel channel.
- The YFI/BTC pair trades at 0.5915 BTC with a move of -0.79%
- The 24 hr volume for YFI coins is $432.4 Million, indicating a 82.56% rise
The YFI coin technical chart indicated an excellent long opportunity for crypto trade when it reached the support trendline in the daily time frame. The demand near the trendline pushed it higher to the resistance trendline.
However, the recent bearish candlestick indicates a boom in selling pressure. Hence, we can shortly observe a bearish breakout.
Concerning the EMAs: The YFI price shows a solid bullish trend with its price trading higher than the crucial EMAs 20, 50, 100, and 200. However, the price action indicates a rise in the number of sellers driving the price lower.
The RSI value is at 51, indicating a rise in bearish sentiment within YFI coins.
The YFI Coin In The 4hr Time Frame Chart
As per price action analysis, the breakout candle below the $3400 can drive the price below to the $3200 or $3000. However, in case of a bullish reversal, an up move of $3600 or $4000 can be seen.
Conclusion: From a technical perspective, the YFI coin has shown an impressive bearish attack. And as mentioned, the zone near the $3400 mark can prove crucial price level.
Support $3200
Resistance $3600