Yearn.Finance (YFI) Price Pumps After Breaking the $8000 Resistance Price Level
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After almost a month of indecision around the $8000 price level, the bull market smashed through the price level. The $10,000 is within the reach of the bulls as the current price is $9504. With very significant bullish move the supply line is forced to move to the $10,000.
YFI/USD Price Statistic
- YFI/USD price now: $9,607
- YFI/USD market cap: $350,494,943
- YFI/USD circulating supply: 36,637.72 YFI
- YFI/USD total supply: 36,666
- YFI/USD coin market cap rank: #124
Key Levels
- Resistance: $10,000, $11,000, $12,000
- Support: $8,000, $7,000, $6,000
Price Prediction for Yearn.Finance: The Indicators’ Point of View
After some period of indecision, the bulls had a breakout. It is a very strong move that take the price from equilibrium to the overbought. With this kind of move, it is possible that the bulls become exhausted. According to the Moving Average Convergence and Divergence (MACD), the MACD line rises in an almost vertical manner, this illustrates how strong the move is. The Bollinger Bands diverges illustrating the high volatility. The market may slow down above $9,000 price securing support level here with which it will use continue the uptrend.
YFI/USD 4-Hour Chart Outlook
When we look at the Bollinger Bands indicator from this smaller timeframe, we noticed some strong bearish activities, which result in the diverging bands. However, these bearish activities were not strong enough to turn the market from the uptrend. It is very likely that the market will go into consolidation within the $9,000 and the $10,000 price zones before which the market will resume it uptrend.
