After the pump in August YFII has been cooling off for the past 3 months consolidating on key level. 200EMA is now getting close to the price creating additional support, and the price is approaching lower trendline of the channel. On lower timeframes we can see that the peaks are getting shorter and shorter which means the price is soon gonna get squeezed between support and resistance. Bullish divergence is visible on both RSI/MFI indicators(1d). In case key level is lost we can expect the price to find support at 3316. Remember that BTC correction might not be over yet.
Entry: buy at current price (3800)
Targets:
4091 4552 4893 5188 5281 5702 6216 6948 7880
-----------------
About YFII:
DFI.MONEY, also known as YFII, is a fork of popular decentralized finance (DeFi) aggregator platform yearn.finance (YFI).
Launched in July 2020, it aims to optimize returns for DeFi investors while adhering to changes proposed in an upgrade plan called YIP-8.
In addition to protocol changes, DFI.MONEY has also released new products, chief among which, the Vault, it describes as its “killer product.”
The native token of DFI.MONEY is YFII, a fixed-supply token which liquidity providers earn in accordance with their network interaction.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.