YFI Token Price Analysis: Descending Trendline Threatens Another Fall In Yearn.finance

The YFI token shows a bearish alignment among the crucial EMAs (20, 50, 100, and 200), indicating a strong downtrend.
Published by
YFI Token Price Analysis: Descending Trendline Threatens Another Fall In Yearn.finance

The overall trend for the YFI token is still bearish. However, the recent bounce back from the $18300 support caused a considerable rally of 73% in this token. The reason for this sudden price pump would be the Yearn Finance Buy-Back Program, where it purchased 282.40 YFI (worth $7.5 million) from the open market for an average of $26,651 per token.

Advertisement

YFI/USD Daily Time Frame Chart

Source- YFI/USD chart by Tradingview

Advertisement

Past Performance or Trend

After the crypto market bloodbath of May ’21, the YFI token price entered into a sideways trend. This lateral movement in price gave birth to a descending triangle pattern in the daily time chart. On December 4th, the token gave a bearish breakdown from this $25000-$25650 neckline, hinting at a stronger downfall in the price.

Advertisement

Token Experiencing Strong Resistance From The Descending Trendline

This new red rally in YFI token price found significant support from the $18500 mark. The price wavered near this support for a couple of days, and after obtaining enough buying pressure, the coin skyrocketed, indicating a 73% gain in five trading days.

The token price retested the overhead resistance trendline of the triangle pattern, which still provides strong rejection to this pair. The current price of the token is $31944.5, with an intraday loss of 4.98%. If the price drops below this near support, the price will continue to fall and soon rechallenge the $26000 support.

On the contrary, Until the price sustains the nearest support from the $30500, the crypto traders can expect a bullish breakout from the falling trendline.

Technical indicators

The YFI token shows a bearish alignment among the crucial EMAs (20, 50, 100, and 200), indicating a strong downtrend.

The daily Relative Strength Index (62) displayed a strong spike in its value, similar to the token’s price action.

According to traditional pivot levels, the token traders can expect the nearest resistance for the price at $35000, followed by $40000. As for the opposite end, the support levels are $31200 and $26152.

Advertisement
Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Markets Expect October Fed Rate Cut as Bitcoin Repeats Post-FOMC Pattern

Bitcoin traders are preparing for a rise or fall in the price of Bitcoin, as…

October 29, 2025
  • News

Trump Tariff: China Resumes U.S. Imports After Agreement With South Korea

Trump tariff tensions have begun to ease as China resumed purchasing U.S. agricultural products for…

October 29, 2025
  • News

BlockDAG Hype Surges as Coinbase and Kraken Listing Rumors Spread

Conversations around BlockDAG, a multi-utility project currency currently in its presale stage, have gained more…

October 29, 2025
  • News

Bitget’s Institutional Volume Hits $23.1 Billion as UEX Framework Gains Global Momentum

Bitget has registered a significant increase in institutional trading volume at $23.1 billion. According to…

October 29, 2025
  • News

Breaking: Grayscale Joins Bitwise, Launches Solana ETF Covering Spot and Staking Features

Grayscale Investments has officially launched its Solana ETF, joining Bitwise after its successful debut yesterday.…

October 29, 2025
  • News

FOMC Meeting Today: Where to Watch and Key Expectations for Crypto Market

Global investors, including those in the crypto market, await key cues from the FOMC Meeting…

October 29, 2025