Market Overview: Yearn (YFIUSDT) – 24-Hour Technical Summary

• Yearn (YFIUSDT) opened at $5755 and closed at $5551, down 3.7% in 24 hours.
• A large bearish engulfing pattern formed early in the session, signaling potential trend continuation.
• Price tested the $5750–5770 cluster twice without holding, confirming it as resistance.
• MACD turned bearish, and RSI fell into oversold territory, suggesting a pause in bear momentum.
• Volatility expanded with a high-low range of $1,205, but volume declined toward the session close.

Opening and Price Action

Yearn (YFIUSDT) opened the 24-hour period at $5755 and traded in a broad range, reaching a high of $5949 before reversing sharply lower. It closed at $5551, 24 hours later, marking a 3.7% decline. Total volume was 307.32575 YFI, with notional turnover amounting to $1,761,383 (assuming average price of ~$5734). The session featured a sharp bearish thrust in the early hours followed by a narrowing range toward the close.

Structure & Formations

The first large bearish engulfing pattern formed at $5958–5942, marking a key pivot point in the session. A second attempt to reclaim the $5850–5900 range failed, with price falling back under $5800. A doji formed at $5783–5783 early in the overnight session, signaling indecision. The $5750–5770 level acted as a consistent resistance, with price failing to break through it on multiple occasions.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward through the session, with price frequently testing the 20SMA before falling back. On the daily timeframe, if we assume a recent daily close near $5600, a 50D, 100D, and 200D moving average cross would likely place the 200DMA near $5800, offering a potential long-term resistance.

Momentum & Overbought/Oversold Conditions

The RSI dropped below 30 in the final hours of the session, entering oversold territory, while the MACD line crossed below the signal line, confirming a bearish momentum shift. However, the oversold condition may indicate a potential short-term bounce in the near term.

Volatility and Bollinger Bands

Volatility expanded significantly in the first half of the session, with the Bollinger Band widening to a width of $1,178 at its peak. Price traded near the upper band during the $5900–5950 highs but later fell well below the lower band, reaching a 24-hour low near $5550. A contraction in the band width toward the end of the session suggests a potential pause in the trend.

Fibonacci Retracements

Applying Fibonacci to the key 15-minute swing from $5949 to $5551, the 38.2% retracement level is at ~$5734, while the 61.8% retracement is near $5642. Price tested the 38.2% level twice but failed to hold it. If the trend continues lower, the next Fibonacci target could be $5400. On the daily chart, a 61.8% retracement of a larger swing from $5950 to $5550 would sit near $5710, offering potential support.

Forward-Looking View and Risk Caveat

While the immediate bias appears bearish, the oversold RSI and failed attempts at $5750–5770 suggest a potential short-term bounce or consolidation. However, key support at $5500 remains untested, and a break below $5400 could invite deeper selling pressure. Investors should monitor volume closely for any sign of reversal or exhaustion.