Prolonged consolidation which continues in the YFI market from 12 February gradually moved into a trend. The scenario of Yearn.Finance (YFI) Price movement continuation within the global triangle is becoming increasingly unlikely.
Though, there were all the prerequisites for such a scenario. The weakness of Bitcoin and sharp attempts to fall on 18 and 23 April opened up strong prospects for sellers of the YFIUSDT pair. However, this chance was not used.
If we analyze the daily timeframe of the YFI chart, we see that sellers’ strengths were too weak to test at least the lower limit of consolidation at $32,400:
The first signs of sellers’ weakness were noticeable in the period from 15 to 18 April. As we can see in the chart, sellers could not keep the YFI price within the black triangle.
In addition, at this time, the whole crypto market didn’t feel too great. For example, Bitcoin in this period just started a confident wave of fall:
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