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21 September 2020

Yearn.finance YFI soars to $33K after Coinbase listing — is $40K next?

Yearn.finance YFI soars to $33K after Coinbase listing — is $40K next?


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The project fundamentals are food for thought, but its price is also a relatively new approach in the cryptocurrency markets, with YFI valued at over $30,000 per YFI, or three times the price of one BTC, albeit with a much smaller market cap. .

The 4-hour chart is showing a beautiful price construction.

These untested levels are quite frequently revisited later on as potential support tests of a more protracted retracement as Yearn.finance is now showing.

If the price of Yearn.finance drops through the green box, the upward trend is invalidated, and more downside becomes likely. .

The BTC chart of Yearn.finance is showing a similar structure, but with one significant difference.

The same technique can also be used to determine potential points of interest using the Fibonacci extension tool as with the USD chart

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cointelegraph.com
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