I don't know much about this coin, so I did this chart analysis real quick as a start.
The red wave (2) has retraced to 0.786 fibonacci, so perfect entry time.
RSI has broken out.
I put standard 1.618 fib targets for wave 3, but it can go higher.
After giving an impressive rally in the last couple of days, it looks like, YFI may do a bearish retest on the larger timeframe.
I took a small scalp and sold for a 4% gain today, but currently, I'm laddering my shorts till the 32k zone.
Though market is choppy, and anything can happen, it is always better to play with proper position sizing and risk management!...
In this analysis, I found 2 bearish pattern at YFI
1. Head and shoulders perform with neckline at 21819. If this neckline break down, bearish target at 4295
2. ABCD Fibonacci pattern also perform with right shoulders as C point. This pattern projection at fibonacci 1.618 at 11563
Tell me your opinion
This platform is for yield optimization and has been dropping like a stone. Lot's of opportunity and there has been over $1.8B in volume on this product in the last 24/hrs with a market cap of only $490.6M.
I'd keep a close eye on potential confirmation the trend has finally bottomed.
🚨🚨 New call!! 🚨🚨
🌙 YFIUSDT buy setup! 🌙
📌 Dumped a lot, time to buy the dip
📌 Whales behaviour, it usually rebound strong
📌 Strong FA/development ongoing for YFI
🔵 Chad buys:
🔴 Stop loss:
manual for now, manage your risk accordingly
🟡 Trailing stop loss:
trail it at break even or at previous target whenever a new target is hit
Holders Making Money at Current Price
yearn.finance price today is $15,225.72 USD with a 24-hour trading volume of $2,486,278,868 USD. yearn.finance is up 12.12% in the last 24 hours. The current CoinMarketCap ranking is #38, with a market cap of $456,279,971 USD. It has a circulating supply of 29,968 YFI coins