The bearishness seems coming to an end. Price is at support of a long-term falling wedge and the technicals are pulling out of overbought. Breakout of the technical trendline will start the process of breaking out of the falling wedge.
yfi looking terrible at 90% down, buying here could pose a risky but low entry at what was a 90k coin.
if the vpvr poc can be reclaimed at the diagonal resistance then a breakout could be violent and very rewarding if yfi pushes a 3rd wave similar to bitcoin 2021, right up to the 4.18 fibo
If the price breaks the supported line at 18311.15, it can be said that the Double Top Pattern has been formed and the pattern has been activated, so the target point is 17223.94.
But the main problem is that I think if it is not supported in the "17225 _ 17120" zone, it will be droped to 8500.
The head and shoulder pattern is almost visible
In 5 minutes, we see an ascending channel with a ceiling of 18,800.
Confirmation of the analysis by the formation of the left shoulder will be that.
The profit margin and the reasonable loss limit can provide us with an ideal trade.
most of these Defi coins are useless
they got no use case
there are like 1000 defi already
most of them will dump hard to ATL or even lower
there is no point to hodl them
either buy the low or wait for reversal confirmation
See you there!
Hello Crypto Lovers,
Mars Signals team wishes you high profits.
This is a one-day-time frame analysis for YFIUSDT
The price is moving to the first support line. It is better to buy this currency in some steps. We expect the price to rise after reaching the support line. In case it moves below the support line and fixes there, we will have more fall in price....
YFI/usdt (yearn.finance) price has found bullish price support and macd momentum in the 1-hour chart.
Entry (long): $21537
Take Profit +6% (exit): $22851
Stop Loss -3% (exit): $20897
Note: need to see a breakout above the descending wedge and price trend change (uptrend) on this hourly chart.
Shorter-term intraday price may pullback before this crypto...