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Summary
• Price declined from $3,517 to $3,388, forming a bearish trend with key support at $3,400–3,420.
• Volume spiked during sharp selloffs, suggesting increased bearish conviction.
• RSI approached oversold territory, indicating potential for short-term bounce.
• Bollinger Bands widened as volatility surged in the final hours.
• A bullish engulfing pattern emerged near $3,400, hinting at possible reversal.
At 12:00 ET–1, yearn.finance/Tether (YFIUSDT) opened at $3,517, reached a high of $3,540, fell to a low of $3,365, and closed at $3,388 by 12:00 ET. The 24-hour volume amounted to 143.83 BTC-equivalent, with a total notional turnover of $497,815 (calculated as volume × price average).
The price action formed a bearish descending pattern, with initial resistance at $3,490–3,510 and key support at $3,400–3,420. A strong bearish engulfing pattern appeared near $3,400, potentially signaling a short-term bounce.

Short-term moving averages (20/50) on the 5-minute chart confirmed bearish momentum, with price staying below both. On a daily basis, the 50/100/200 MA crossover indicated sustained bearish pressure. The MACD showed a bearish divergence, with negative momentum intensifying in the final hours. RSI dipped into oversold territory, suggesting a possible bounce, but a bullish reversal remains unconfirmed.
Bollinger Bands expanded significantly during the final hours of the 24-hour period, indicating rising volatility. Price closed near the lower band, a common setup for a mean reversion. However, the bands’ widening implies continuation risk if the bears retain control.
Volume spiked during sharp declines in the 5–7 PM and 4–5 PM ET windows, confirming bearish pressure. Notional turnover aligned with these price drops, showing no divergence. A smaller-volume bounce near $3,400 suggests limited buying interest, but could set the stage for a temporary pullback.
A short-term bounce near $3,400–3,420 appears possible due to oversold RSI and a bullish engulfing pattern, but a break below $3,365 could extend the bearish bias. Investors should watch for a retest of key support and divergence in momentum indicators for directional clarity.
Over the next 24 hours, a break above $3,480 could trigger a consolidation phase, while a drop below $3,350 may accelerate the decline. Volatility may remain elevated, and caution is advised given the current bearish momentum.
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