yearn.finance (YFI) Again Rejected By $30K Resistance
On daily chart, the priceline of YFI token has again been rejected by 30K resistance.
The price action also has good supports of 25, 50 and 100 SMAs. If the price action will breakdown the 100 SMA, then it can re-test the 20K previous support as well.
On 4 hour chart the price action of YFI is also moving above 50, 100 and 200 simple moving averages.
Now the priceline is using these SMAs as good support. We can use the 200 SMA on 4 hour chart or the 20k price level support as stop loss.
Now 1st the priceline may form an up channel if it will be bounced from an up trend line. If it will break down the 100 SMA or the 20K support level, then we can expect another Shark move like previously the price action did.
The price action also has good supports of 25, 50 and 100 SMAs. If the price action will breakdown the 100 SMA, then it can re-test the 20K previous support as well.
On 4 hour chart the price action of YFI is also moving above 50, 100 and 200 simple moving averages.
Now the priceline is using these SMAs as good support. We can use the 200 SMA on 4 hour chart or the 20k price level support as stop loss.
Now 1st the priceline may form an up channel if it will be bounced from an up trend line. If it will break down the 100 SMA or the 20K support level, then we can expect another Shark move like previously the price action did.
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