The situation in the YFII market could not pass us by without much attention. It is a relatively young DFI.Money token, which began trading on the Binance exchange on 1 September 2020, has been trading in broad consolidation all this time.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/7/7toGfzxP.png" alt="YFII" width="1380" height="809" />

<a href="https://www.tradingview.com/x/7toGfzxP/">https://www.tradingview.com/x/7toGfzxP/</a>
<h2>The YFII Price Broke the Global Consolidation Up</h2>
The range of this consolidation is approximately 150%. The last time the YFII price visited the lower limit of the global consolidation was $1200-$1400 on 23 June. At this time in the cryptocurrency market, other projects updated the lows, which were set on 19-20 May. However, the DFI.Money token project limited itself to a light touch to the liquidity range.

In the <a href="https://www.cryptoknowmics.com/news/bitcoin-falls-back-below-35000-as-market-continues-crashing/">third fall wave of cryptocurrencies</a> in July, the YFII crypto market did not feel at all. At that time, the price was in cumulative consolidation at $2716 and was preparing for a strong growth wave. Almost the entire cryptocurrency market on 22-23 July again updated its local lows.

At the end of July, the YFII token buyers managed to test and break the upper limit of the consolidation $3400-$3700. Having set a local high at $4766, buyers decided to relax. At the moment, according to our DFI.Money technical analysis, it is important for buyers to maintain control over the range of $3400-$3700.
<h2>YFII Correction After a Strong Growth Wave Looks Weak</h2>
By not allowing the price to fall below this range, buyers will confirm their strength and irresistible desire to continue the growth trend in the YFII market.

Analyzing the nature of the local price fall, which has been going on for 4 days, we have not yet noticed a large number of sellers. In the daily timeframe, we see 4 small candles on low volumes, which indicates that the current local growth wave may be incomplete. If you take a magnifying glass and look at the situation on the DFI.Money market in a 4-hour timeframe, it becomes clear that in the local range of $4550-$4700 sellers have arranged a local sale:

<img src="https://s3.tradingview.com/snapshots/k/kMwxHR8F.png" alt="TradingView Chart Snapshot" />

<a href="https://www.tradingview.com/x/kMwxHR8F/">https://www.tradingview.com/x/kMwxHR8F/</a>

Though, buyers are trying to keep the trend line and the local level of $4150. To better understand the situation, you should wait for the price to go beyond the range of $4150-$4550. However, given the aggressive BTC market growth, the probability of another attempt to update the YFII local high is high.
<h2>DFI.Money Technical Analysis in Pair to BTC</h2>
Analyzing the YFIIBTC chart, we also do not notice any negative factors that may affect the YFII price.

<img src="https://s3.tradingview.com/snapshots/e/Eo7uGVIp.png" alt="TradingView Chart Snapshot" />

<a href="https://www.tradingview.com/x/Eo7uGVIp/">https://www.tradingview.com/x/Eo7uGVIp/</a>

After a strong growth wave, the correction is within acceptable limits and the price has not yet reached the local liquidity zone of 0.085-0.092. Therefore, if the situation in the cryptocurrency market does not drastically change to the opposite - we will expect continued growth of the YFII market to $5540.

DFI.Money (YFII) Technical Analysis: The Price Can Go Up to $5540

However, given the aggressive BTC market growth, the probability of another attempt to update the DFI.Money (YFII) local high is high.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

DFI.Money (YFII) Technical Analysis: The Price Can Go Up to $5540

Top Picks