10 June 2023 : In this article we will walk you through yearn finance price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for yearn finance, Is YFI a good investment? yearn finance support & resistance levels etc. But before diving deep into the YFI technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,044,136,575,632. The total trading volume stands at $48,548,257,055. Bitcoin shares 47.7 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,676.63 level after a decline of -3.56%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.76 percent reaching to $1,743.38 during the previous 24 hours.
While publishing this blog, BNB traded at $235.69, following a price change of -10.29%within the same time frame. XRP the native coin of XRP is down by -7.73 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of yearn finance (YFI)
|YFI Resistance Levels||YFI Support Levels|
|Resistance Level 1||$8,097.32||Support Level 1||$7,304.97|
|Resistance Level 2||$8,450.00||Support Level 2||$6,865.30|
|Resistance Level 3||$8,889.67||Support Level 3||$6,512.62|
YFI has recorded a upsurge, gaining 3.2% in last 24 hours. The current value of yearn finance is hovering at $19,924.09 with the trading volume of $103,593,993.00 USD in the same timeframe. The overall marketcap for YFI is $729,973,321.00 USD while the coin price changes 8.37% over the week.
YFI price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the yearn finance.
|Simple Moving Average (10)||7,795.62||Buy|
|Exponential Moving Average (10)||7,814.64||Buy|
|Simple Moving Average (20)||7,961.89||Buy|
|Exponential Moving Average (20)||7,956.02||Buy|
|Simple Moving Average (50)||8,583.14||Buy|
|Exponential Moving Average (50)||8,556.36||Buy|
The YFI/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. The Relative strength index (RSI) for YFI Coin is currently hovering at 34 for 14-days average line, which means YFI is just recovering from a oversold condition. While YFI’s Williams %R indicator is at -44.975 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.
There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.