Looking for a support in YFI
Assets covered: Yearn Finance (YFI)
Metrics used: Supply on exchanges, Supply Distribution, Exchange Inflow, Active Addresses, Network Profit Loss, Social volume, MVRV
It's been a while we've been ignoring YFI. Well, Yearn Finance is not really doing a lot in sense of price or social activity. What's going on with one of the most noticeable coins from DeFi summer?
Bullish Cases
Price action
It has been a very very long bloody triangle. And now this is the first time 44K level is probably becoming a support. If it holds then we have a new chance to go to 100K.
Overall a usual pattern, higher highs - higher lows. Right now it needs to make the higher high. If it manages then we have a confirmation. So far higher lows has been establishing. That's good.
Total value locked (TVL)
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