Beefy Finance – Bullish Rally Incoming

Hello, everyone!

BIFI token price is in the long consolidation phase. The volatility now is very low. I suppose it is time to explode soon. The BIFI formed the huge symmetric triangle. The upper band of this triangle was broken finally. This is the very nice factor for trend reverse. Also we can see that the price tested the Supply Zone 1 multiple times and now is trying to breakthrough again. There is a high probability that the Supply Zone 1 will be broken soon. In this case the first target is Supply Zone 2 ($1700).

If we suppose that the downtrend is broken, I expect the small pullback after reaching the Supply Zone 2 and after that the breakout to the Supply Zone 3($2500), which is the final target for my trade.

The BIFI tokenomics supports my analysis because it have the maximum supply of 80000 BIFI and 78000 BIFI are already in circulation, so I am not expect the supply increase.