YFI BTC yearn.finance Technical Analysis

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By Frans van Elst

yearn.finance logo In this yearn.finance technical analysis, we will examine the current price action, trading volume, key levels and indicators for YFI-BTC. Yearn.finance (YFI) is a decentralized finance (DeFi) protocol that enables users to earn yield on their digital assets without the need for traditional financial intermediaries. YFI’s innovative approach to lending and borrowing has captured the attention of investors and traders alike, driving significant growth in its user base and market capitalization. By leveraging blockchain technology and smart contracts, YFI provides a secure and transparent platform for users to access a wide range of financial services, from lending and borrowing to yield farming and more.

yearn.finance Price Overview:

As of April 17, 2024, yearn.finance is trading at approximately 0.11 BTC. Let’s dive into the detailed price action for YFI-BTC:

Clearly see potential bearish trend for yearn.finance (YFIBTC) at 1.10e-01 BTC through detailed technical analysis, highlighting weakened support and cautionary indicators.

Metric Value
Open (O) 0.1084
High (H) 0.1101
Low (L) 0.1063
Close (C) 0.11
Volume (C) 13.70
  • Open (O): The opening price for today’s trading session was approximately 0.1084 BTC.
  • High (H): yearn.finance reached a daily high of around 0.1101 BTC.
  • Low (L): The daily low for YFI-BTC was approximately 0.1063 BTC.
  • Close (C): At the time of analysis, yearn.finance is trading near its daily close of 0.11 BTC.
Metric Value
1D Change (%) 1.10%
3D Change (%) 0.64%
7D Change (%) -6.38%
30D Change (%) -16.48%
90D Change (%) -39.33%
YTD Change (%) -42.47%

Over the past three days, YFIBTC has risen by approximately 0.64%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -6.38%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with YFIBTC maintaining a downward trend of approximately -16.48%, despite intermittent fluctuations. Examining the last 90 days, YFIBTC has witnessed substantial decrease of approximately -39.33%, reflecting strong long-term confidence. Year-to-date, YFIBTC has steadily decreased by around -42.47%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

yearn.finance Live Chart:

You can access a live price chart for YFI-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.46194.
  • Momentum score is -0.13793.

YFI BTC Technical Analysis

yearn.finance Trading Volume:

The trading volume for yearn.finance (YFI) over the past 24 hours has been insignificant, with approximately 13.70 BTC traded against YFI. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): YFI is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): yearn.finance is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for YFI-BTC is currently in the low zone, around 35.33303. This suggests that yearn.finance is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

yearn.finance (YFI-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Clearly see potential bearish trend for yearn.finance (YFIBTC) at 1.10e-01 BTC through detailed technical analysis, highlighting weakened support and cautionary indicators.

Missing our detailed breakdown on YFI USDT yearn.finance Technical Analysis would be a lost opportunity if you found value in this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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