FX.co ★ Cryptoanalytics from InstaForex

Price Movement Analysis of YFI/USDT Currently, the YearnFinance asset is at a resistance level, forming within a descending triangle pattern. Breaking above this level could signal a reversal towards a bullish trend with targets set at higher liquidity levels. Possible Descending Trend Failure to surpass the mentioned resistance level and a bounce off it could indicate the beginning of a potential descending trend. In this scenario, the price might retrace to the weekly Order Block (OB) zone, where a bullish activity resurgence is possible. Key Support Zone The weekly Order Block is a crucial support zone for #YFI. Holding this level offers excellent buying opportunities with the prospect of subsequent upward movement. However, a breakthrough below this zone could lead to further decline towards the next high demand zone. Beware of a Broader Bearish Trend A breakthrough below the high demand zone may signify the development of a deeper bearish trend. It is important to remain flexible and closely monitor changes in the YFI market, adapting to new trading conditions.