03 October 2022 : 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 -1.34 percent, bringing the entire cryptocurrency market to $942,335,049,517. The total trading volume stands at $55,864,137,628. Bitcoin shares 39.85 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,591.61 level after an upward movement of 2.06%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.04 percent reaching to $1,322.00 during the previous 24 hours.
While publishing this blog, BNB traded at $288.00, following a price change of 1.43% within the same time frame. XRP the native coin of XRP is down by -0.28 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.43% 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||$8,719.11||Support Level 1||$7,761.89|
|Resistance Level 2||$9,263.26||Support Level 2||$7,348.82|
|Resistance Level 3||$9,676.33||Support Level 3||$6,804.67|
According to PriceAnalysis Market Index, yearn finance (YFI) is trading at $19,924.09 with a trading volume of $103,593,993.00. However,YFI has seen a price increase of 3.2% in the last 24 hours.YFI price changes 8.37% over the week with a total market capitalization of $729,973,321.00 USD.
YFI price analysis for 03 October 2022 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)||8,193.82||Buy|
|Exponential Moving Average (10)||8,170.65||Buy|
|Simple Moving Average (20)||8,419.21||Buy|
|Exponential Moving Average (20)||8,385.61||Buy|
|Simple Moving Average (50)||9,187.31||Buy|
|Exponential Moving Average (50)||9,143.36||Buy|
While YFI’s Williams %R indicator is at -75.639 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The relative Strength Index (RSI) indicates that the YFI coin is in consolidation zone, as RSI is at 43. 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.
As of now, yearn finance is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the YFI move into the positive zone. As far as we can tell, yearn finance is on its way up. In 2022 and beyond, the yearn finance price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.