YFII Breaks Out From Long-Term Resistance – What’s Next?

[Shahinaz]

The DFI.money (YFII) price has broken out from the $2,500 resistance area but is currently returning to validate it as support.

Despite the ongoing short-term decline, the trend is still likely to be bullish and should continue moving upward.

YFII Breakout From Resistance
Since breaking down on Oct. 2020, YFII had been trading below the $2,500 resistance area, having made four unsuccessful breakout attempts.

However, YFII successfully moved above this level on Feb. 11, reaching a high of $3,682 several days later. Nevertheless, the highs could not be sustained, and YFII has been moving downwards since and is close to validating the $2,500 area as support.

Despite the loss of momentum evident by the decreasing RSI and MACD, the Stochastic oscillator has made a bullish cross. The RSI is still above 50, and the MACD is above 0, indicating that the trend is still bullish.



more : https://beincrypto.com/yfii-breaks-out-from-long-term-resistance-whats-next/

To conclude, YFII should complete its correction soon, potentially validating the $2,500 area once more before moving upwards towards $3,950 and possibly higher.

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