Together with the rest of the crypto market, YFII is currently seeing a very strong upward move. Furthermore, YFII has been one of the best performers since the low of end June. Since then, YFII has seen over +175% increase in value.
The current immense price action has launched YFII towards the resistance area of the 10-month channel in which it has been trading since October 2020. Assuming that the current price action will hold, I foresee a $6500 or even a $8500 YFII in the long term. Wait for a confirmed break out before trading.
Might be the case that YFII will need some time to cool down after such a run-up. I'm eyeing the $3000 area for a potential bounce.
Happy trading!
The current immense price action has launched YFII towards the resistance area of the 10-month channel in which it has been trading since October 2020. Assuming that the current price action will hold, I foresee a $6500 or even a $8500 YFII in the long term. Wait for a confirmed break out before trading.
Might be the case that YFII will need some time to cool down after such a run-up. I'm eyeing the $3000 area for a potential bounce.
Happy trading!
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