After the recent downturn, the YFI/USD has been reduced to $5,727.
yearn.finance price analysis shows a bearish trend, in general.
Right now, support for the cryptocurrency is present at $5,670.
The latest yearn.finance price analysis confirms a downtrend for the day as the selling momentum has been continuously growing. The YFI/USD is trading at $5,727 and is at risk of further losses. The previous day’s high was at $5,951 which acts as a resistance level in the current market. However, the bulls were unable to sustain the breakout.
The sellers have taken the control of the market and breaking out to $5,670 could be a sign of support, and if this level is broken, YFI could find its way to $5,500. The resistance and support levels are crucial to watch in the next 24 hours as it could decide the fate of YFI/USD.
The daily YFI confirms the market’s downward trend, as the price covered bearish movement in the previous 24 hours. The already-under-pressure price has crashed again today; an unexpected decline has been experienced toward the $5,727 low, while the moving average (MA) value is standing at the $5,516 position. The coin reports a loss of 1.24 percent over the last 24 hours which is quite a significant drop.