YFI looks like it is going to bounce back from the lows it has hit recently, after a huge surge this summer. The entire DEFI market plunged, except for Chainlink and REN - however YFI changed ownership recently, and is looking for some growth.
Higher Time Frames 4HR and 1D are converging on a golden cross, but the MA50 could bounce off the MA100 with downward selling pressure we have started seeing. I believe if there is a sell off, it will only be temporary, and YFI is otherwise a great buy going forward. Wait for signal of MA50 to cross up and over MA100 on 1D for any purchases.
Higher Time Frames 4HR and 1D are converging on a golden cross, but the MA50 could bounce off the MA100 with downward selling pressure we have started seeing. I believe if there is a sell off, it will only be temporary, and YFI is otherwise a great buy going forward. Wait for signal of MA50 to cross up and over MA100 on 1D for any purchases.
Note
4 Hour Chart now confirmed
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.