Yearn.finance (YFI) Bulls Still in Action Despite Volatile Swings

Buyers in the Yearn.finance market seem uncertain as they struggle to gain momentum, following significant volatility with both upward and downward movements in price action. Let’s explore what could be anticipated in this market.

Key YFI Statistics:
Current Basic YFI Value: $8787
Yearn.finance Market Cap: $290,711,690
Yearn.finance Circulating Supply: 33,229
Total Supply of YFI: 36,647
Yearn.finance CoinMarketCap Ranking: 140

Key Price Levels:
Resistance: $8787, $9000, and $9100
Support: $8700, $8600, and $8500

Yearn.finance Bulls Moving with Minimal Momentum

As noted earlier, price action in the YFI market underwent massive movements, surging through the $14,000 mark, followed by a subsequent crash, possibly due to profit-taking by traders.

However, the market is currently rising with minimal momentum. The leading line of the RSI appears hypersensitive, indicating that buyers, although seemingly weak, are still capable of causing some upside correction, as bears appear subdued in this market.

Yearn.finance Maintains Its Path Towards the $9000 Mark

With cautious progress, Yearn.finance price action is gradually moving upward. In the 4-hour market, the Bollinger Bands have contracted significantly. Despite this, price action remains above the middle limit of the Bollinger Bands.

The ongoing session’s price candle suggests buyers are facing some rejection, as indicated by the appearance of an upper shadow. Nevertheless, bulls retain control as the price candle remains above the middle limit of the Bollinger Bands and the color stays green. Traders can anticipate an upside correction towards the $9150 mark.

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