The MACD, RSI & Stochastic oscillator are all bullish, even if they are showing decreased strength. However, it is struggling to move above the 0.5 Fib retracement resistance level at $2,441. On July 14, it validated the area as support (green icon). The pattern was also combined with very significant bullish divergence in the MACD, RSI & Stochastic oscillator.Īfterwards, the token moved upwards and reclaimed the $2100 resistance area. Similarly to YFI, YFII also crated a double bottom pattern throughout May/June. YFI is trading above support at $28,000.If the movement was indeed a leading diagonal, YFI will create a higher low near this level and resume its upward movement. So far, it has reached a low of $30,124, very close to the 0.618 Fib retracement support level. The short-term movement since June 12 resembles a leading diagonal pattern, that culminated with the aforementioned $37,783 high on July 7.Īfterwards, YFI broke down from the ascending wedge. The closest resistance area is at $51,067, the 0.382 Fib retracement resistance area.
While the Stochastic oscillator has made a bullish cross, it has begun to move downwards. The MACD is increasing but is still negative and the RSI is below 50. However, technical indicators are neutral/bearish. However, the token failed to break out from a descending resistance line, and returned close to the same level on June 22, successfully completing a double bottom pattern.Īfterwards, it broke out from the descending resistance line and proceeded to reach a high of $37,783 on July 7. It is currently retracing as a result of the breakout. The bounced validated the $28,000 horizontal area as support. On May 23, YFI reached a low of $23,859 and bounced.
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