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03 March 2021

Monster bull flag for Yearn.finance puts $200,000 YFI price in play

Monster bull flag for Yearn.finance puts $200,000 YFI price in play


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Monster bull flag for Yearn.finance puts $200,000 YFI price in play.

7, and after the price consolidated over a period of 10 days, the price broke out of a classic bull flag structure before the bad news started circulating, causing holders to lose faith in founder Andre Cronje.

However, once the news had passed it was clear from the gradual 52% price increase that bullish investor sentiment had returned, which just so happened to be the same size as the flagpole on the somewhat failed bull flag.

The good news for YFI holders now is that the charts are now showing the exact same pattern playing out with a 50% candle, which would bring the price target up to $65,770.

However, even by deducting 20% off this level, which would represent a move to the 0.786 Fibonacci (fib) level, this still puts a potential upside target around 350%.

Everything about YFI screams "buy," where even a move just to the 0.236 Fibonacci level would represent a 70% increase in price.

Should this level continue to hold, a move to the upper resistance of the current channel around $55,485 is where I would be first targeting, before the wider breakout to $65,000

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