- Yearn.finance coin (YFI) is currently trading at $6245.31 with a minor decline of -1.61% in the 24 hours.
- The Yearn.finance coin increased by 2.89% in the last 7 days.
- The (YFI) market capitalization is $206030672.
Yearn Finance gives an aggregator service for decentralized finance. Yearn Finance is a platform that uses an automation process to provide investors an advantage in yield farming and take a profit from it. It is the process where users lock up their cryptocurrency in decentralized finance (Defi) protocol so that they can generate interest.
Andre Cronje, founder of Yearn Finance launched it in 2021 and after that, it went 55x in less than 3 months and touch a $1 billion valuation.
Yearn.finance Trend Analysis:
By studying historical price data, we can say that YFI is right now in a downtrend. The price is declined -2.89% in the last seven days and we can say that YFI is underperforming right now.
Yearn.finance Coin (YFI) Technical Analysis
The price of Yearn.finance coin (YFI) has slipped below 50 and 200 EMA, which suggests that the price is in a bearish trend. If the sellers continue to push the price down, the coin’s value may fall even further in the upcoming week. The bears are not in the mood to give power to bulls right now.
The technical indicator MACD is also in negative territory heading in an upward direction. The MACD line at -23.27483915 and signal line at -71.72039293 is below the zero line, suggesting that the MACD is in negative territory and is giving bearish signals.
The current value of RSI is 51.20 points. The 14 SMA line is currently close to the median line, around 48.87 points which shows neutral sentiment in the market. As the price is heading toward overbought territory, the market is experiencing bearish sentiment currently.
Yearn.finance Trendline Analysis:
The price has respected its significant trendline resistance and is heading for support. As soon as the price breaks the trendline, it will go down to the next support.
Yearn.finance coin (YFI)’s average trading volume for the last 24 hours is $22432361 showing a 3.30% growth in volume in one day. Lack of buying interest in the coin is the major reason behind the lower volume.
- Support – The current support level of (YFI) is $5038.
- Resistance –The current resistance level of (YFI) is $9240
Yearn.finance coin (YFI) is struggling in the market. Based on the price action, it appears that a price break of its primary trendline support level may lead to further price drops in the coming day. YFI price shows a pessimistic situation at the moment. Major reliable indicators like EMA, RSI, and MACD give negative signals about the Yearn.finance coin. Due to the adverse performance of the YFI investors are afraid to invest.Yearn.finance coin is not showing any recovery signs right now.
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.