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

• Yearn (YFIUSDT) traded in a narrow range early, then dropped sharply to $5189 before rebounding.
• A bearish engulfing pattern emerged at 00:00 ET, followed by a bullish reversal at 03:30 ET.
• RSI hit oversold territory near 28.5, suggesting potential for a short-term bounce.
• Volatility spiked in the early morning, with volume peaking at 12.85551 BTC during the $5189 low.
• Price remains below the 20-period moving average, signaling ongoing bearish momentum.

Market Overview

Yearn (YFIUSDT) opened at $5344 on 2025-07-31 12:00 ET, peaked at $5436, and closed at $5249 on 2025-08-01 12:00 ET. The pair traded between $5107 and $5436, with a total volume of 144.1249 BTC and a notional turnover of $770,597.11.

Structure & Formations

Price action revealed a bearish engulfing pattern at 00:00 ET, as the candle opened at $5190 and closed at $5210 after a high of $5215 and a low of $5186. This pattern suggests a potential continuation of the downward trend. A bullish reversal followed at 03:30 ET, as the price surged from $5266 to $5300, forming a hammer-like pattern. Key support levels were identified around $5220 and $5170, while resistance levels were noted near $5280 and $5320.

Moving Averages

On the 15-minute chart, the 20-period moving average (SMA) was above the current price, indicating bearish momentum. The 50-period SMA also remained above the price, reinforcing the downtrend. On the daily chart, the 50-period SMA was near $5300, while the 200-period SMA sat around $5200, suggesting that the asset is consolidating between these two key moving averages.

MACD & RSI

The MACD line crossed below the signal line during the early morning session, confirming bearish momentum. The RSI dropped into oversold territory near 28.5, suggesting that the asset may find short-term support and potentially reverse. However, the RSI remains below 30, indicating caution for near-term buyers.

Bollinger Bands

Price action showed a notable expansion in volatility during the early morning hours, with a 15-minute candle reaching from $5170 to $5222. The low at $5189 was near the lower Bollinger Band, suggesting that the price could find a bounce. However, the upper band remained above $5290, indicating resistance to the upside.

Volume & Turnover

Volume spiked during the sharp drop to $5189, with a 15-minute volume of 10.73265 BTC. This was followed by a rebound with a volume of 12.37879 BTC, indicating some buying interest. Notional turnover also spiked during the same period, confirming the price move. Divergence between price and volume was minimal, suggesting that the moves were backed by liquidity.

Fibonacci Retracements

On the 15-minute chart, the 38.2% Fibonacci retracement level was around $5245, and the 61.8% level was near $5280. Price briefly tested the 38.2% level before bouncing back. On the daily chart, the 61.8% retracement from the recent high was near $5250, aligning with key support levels.

Looking ahead, Yearn (YFIUSDT) could test the $5220 support level in the next 24 hours. While the RSI suggests a potential bounce, the overall bearish momentum and key moving averages remain a risk to the upside. Investors should watch for a break above $5280 as a potential reversal signal, but remain cautious of further downside if the $5170 level breaks.