The great YFI is likely going to dump. Here are my reasons.
Using technical analysis, a head and shoulder pattern is clearly shown on the chart as seen which also indicates its ATH (All Time High). On a 4 hour timeframe, price has broken and retested the first zone and now resting on the second zone. A break on the second zone will give higher possibilities of the dump taking place.
Fundamentally, there is a rumor that 1 million YFI has been transferred to binance exchange. A dump is likely to take place folks.
Take great caution with some altcoins you are holding and stay safe.
Please let me know your thoughts in the comment section.
Using technical analysis, a head and shoulder pattern is clearly shown on the chart as seen which also indicates its ATH (All Time High). On a 4 hour timeframe, price has broken and retested the first zone and now resting on the second zone. A break on the second zone will give higher possibilities of the dump taking place.
Fundamentally, there is a rumor that 1 million YFI has been transferred to binance exchange. A dump is likely to take place folks.
Take great caution with some altcoins you are holding and stay safe.
Please let me know your thoughts in the comment section.
Also from the technical side of it, price was weak enough to retest and shoot up.