📈 Technical Analysis: yearn.finance ( $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 (resistance breakout): If a convincing breakout above the upper boundary occurs with confirmation – this is a buy signal. Stop-loss behind the nearest extreme (which will form after the breakout). Take profit – before the next resistance level.
💬 Important: Before entering, evaluate the risk/reward ratio. If it's below 2:1 – better to skip the trade.
Conclusion:
YFI is an asset for patient traders who know how to wait for clear setups. Trade the structure, don't chase trades.
📈 Open trade with $YFI
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