Yearn Finance (YFI) and Avalanche (AVAX) Technical Analysis: What to Expect? - Crypto News

Yearn Finance (YFI) and Avalanche (AVAX) Technical Analysis: What to Expect?

Yearn Finance and Avalanche prices are reversing from H1 2021 pits. AVAX/USDT may overcome $14 while YFI/USDT has strong support at $26k.

Yearn Finance (YFI)

Using YFI for governance, the protocol aggregates various services all tuned for maximizing DeFi yields for investors.

Past Performance of YFI

There is a V-shaped reversal of YFI prices visible in the daily chart.

Still, participation is low, and traders are apprehensive comparing current trading volumes with April and early May 2021.

Technical candlestick arrangement tilts price action in favor of bears, but this could change if YFI bulls crack $35k and $40k.

YFI is losing ground against the USD, shedding six percent on the last trading day.

Day-Ahead and what to Expect

YFI is under pressure even with encouraging gains this week. Prices are tracking higher, but noticeably reacting at the 20-day moving average.

Immediate resistance lies at $40k.

Meanwhile, if YFI/USDT fails to flourish, caving into relentless selling pressure, $26k is the last line of defense.

YFI/USDT Technical Analysis

The $14k zone between $26k and $40k is critical for YFI/USDT traders.

A conclusive close above the middle BB at around $35k may provide buying opportunities for YFI bulls angling for $40k.

On the other hand, YFI may collapse if $26k fails to hold.

In that case, YFI/USDT prices may retest $20k.

Avalanche (AVAX)

The platform was the first smart contracting protocol to settle transactions within one second as a standard. AVAX is central to this network, helpful in making payments and reward distribution.

Past Performance of AVAX

AVAX/USDT is trading within a bear breakout pattern, down over 80 percent from 2021 peaks.

At present, it has support at around February 2021 lows, trading within June 21 and 22 trade range.

Also, the middle BB acts as a liquidation level, capping bulls though primary support lies at around $10. AVAX is now down five percent on the last trading day.

Day-Ahead and what to Expect

The $4 range between $10—this week’s support—and $14—June 21 highs–define AVAX/USDT’s short-term trajectory.

Since losses are deep—at over 80 percent from peaks—risk-on traders may load the dips, expecting price expansions above $14 towards $23.

AVAX/USDT Technical Analysis

AVAX/USDT risk-averse traders can wait for trend definition.

A high-volume close above $14 could offer better buying opportunities with targets at $23 in a buy trend continuation.

On the lower end, a chilling dip below $10 is enough to shatter AVAX bulls’ hope as prices may possible H2 2020 highs of around $6.



Show More

Leave a Reply

Your email address will not be published.