Yearn.Finance Price Prediction for Today, December 3: YFI/USD Bullish Price Struggling to Survive Pressure Above the $6691 Price Level

Join Our Telegram channel to stay up to date on breaking news coverage

Since November 10 in the Yearn.Finance market, when the bull market was rejected at $6691 and fell below the resistance, neither the demand line nor the supply line could make any progress as both sides became evenly matched. But towards the end of November, the bull market began to gain momentum. And within the first three days of December, the bullish price came above the major resistance level which is $6691. But so far, the bull market is not doing well above the $6691 price level.

Yearn.Finance Market Price Statistic:

YFI/USD price now: $6760
YFI/USD market cap: 247,649,559
YFI/USD circulating supply:36,637.72
YFI/USD total supply: 36,666
YFI/USD coin market ranking: #110

Key Levels

Resistance: $8000, $9000, $10,000
Support: $6000, $5000, $4000

Yearn.Finance Market Price Analysis: The Indicators’ Point of View

The bullish price is facing immense pressure after breaking the resistance level. And because of that, we may not regard the market to have broken out of the deadlock yet. The RSI line continues to measure the momentum of the market in the midrange as the bullish price remains stagnant due to the pressure. However, because of the slight upper hand that the bulls are having, the Bollinger indicator appears to be moving slightly to the upside as it, yet, continues to maintain a narrow price channel.

YFI/USD 4-Hour Chart Outlook

The bulls seem to be succumbing to the bearish resistance. However, the forces of demand behind the price movement prevent the sellers from taking the price too far. With a new higher support level and an unmovable resistance level like this one, the bull market may be weakening. And a bearish price breakout may be imminent.

Most traders did not like it when the market ranges for a long time (such as what is happening in the YFI market) because of the difficult liquidity of assets. But, with recent experience in the crypto market, innovators are devising systems that will help traders get the most out of the market. It is now easy for all traders and investors to stay in the loop with all the events affecting cryptocurrencies; thanks to our groundbreaking Dash 2 Trade platform. You will not miss any important events on the cryptocurrency market, because the platform helps you stay on top of your trading game. D2T presale dashboard is launching soon as the product dev is ahead of schedule. In the ongoing presale, almost $8.5 million has been raised.

Related

Dash 2 Trade - Crypto Analytics Platform

Our Rating