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Yearn.Finance Price Analysis: YFI/USD touches $38,000 after yet another breakout

  • YFI price is currently around $36,000 after a slight rejection from $38,855. 
  • Bulls are riding the 12-EMA on the 4-hour chart and looking for yet another leg up.
Yearn.Finance Price Analysis: YFI/USD touches $38,000 after yet another breakout
Lorenzo StroeLorenzo StroeIndependent Analyst

Yearn.Finance has been one of the best-performing assets in the past week reaching $1 billion market capitalization after just weeks of trading. At this point, it’s remarkably difficult to predict the top of YFI as FOMO continues pushing the digital asset up.

YFI/USD 4-hour chart

YFIUSD

The 4-hour chart is currently in a strong uptrend defending the 12-EMA and looking for another leg up with some resistance at $36,860 and the all-time high at $38,855. For support, bulls can use $30,000 and $29,689 as well as the last low of $26,900. Anything below this level would represent a downtrend and a clear shift in favor of the bears.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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