The 2-hour chart shows us that YFI is close to breaking below a major trend line. This trend has been in place from the 13th of May low at $60,487.
I consider this to be an important level of support, as a clear break has the potential to push the Yearn Finance price back to $50,000.
A series of lows from early April provide support around the $50k mark.
Watch for breakout above 50-51K neckline for possible confirmation of Adam and Eve pattern on 1D.
~ 61-63K range may be potential target if that is the case.
Need to see increase volume and MACD crossover signal line as well.
Good luck trader!
We may be running out of steam here for YFI, possible distribution and re-test of 40k soon, hitting fib 0.786.
IFwe don't hold that level, we can jump in when it hits the low 30's.
Not financial advice :)