📈 Technical Analysis: (
$YFI )
Market capitalization: $119M.
YFI is the governance token of the DeFi protocol Yearn Finance, which automates the search for the best yields across various platforms.
🟡 This token once traded higher than Bitcoin!
On the chart, YFI is moving within a wide sideways channel with a somewhat unclear level structure.
How to trade❔
Scenario 1️⃣ (resistance bounce): If price approaches the upper channel boundary and forms a reversal pattern – consider selling. Place stop-loss beyond the resistance level. Take profit – before the lower support level.
Scenario 2️⃣ (res