Yearn Finance is solid above $26k and YFI may post even more gains in days to come. On the other hand, Bancor is recovering and BNT may soar to $5.
The multi-chain yield aggregator uses YFI for governance.
The Yearn Finance coin is flat-lining inside a tight range in a consolidation.
Although YFI crypto buyers have a chance, the lack of a clear trajectory is starving the token of required capital.
From the YFI technical analysis of the daily chart, prices are in a sideways movement.
Most importantly, YFIUSDT prices are inside the November 18 bull bar, pointing to strength.
The high volume bar did reverse losses of November 16, shaking off sellers and paving the road for buyers.
In the days to come, the YFI coin bullish outlook depends on the reaction at $30k.
Although YFI token prices remain bearish, there are higher highs relative to the lower BB.
Therefore, if YFI prices shake off bears and oscillate above $30k, there could be more room for expansion.
A sharp break above $34k and the middle BB may draw demand, further deriving YFI to $40k in confirmation of the November 18 bull bar.
Conversely, losses below $30k and last week's lows may trigger a sell-off, forcing the token back to July 2021 lows of around $26k.
The DeFi protocol is one of the earliest using BNT as the primary token.
After periods of sideways movement, Bancor token prices are now breaking higher in a resumption of the primary trend. Notably, the November 25 bar did close above minor resistance lines, confirming the higher highs of the past few days.
The BNT coin uptrend is valid.
As visible from the BNTUSDT price chart, buyers are finding support from the 61.8 percent Fibonacci retracement level of the October 2021 trade range.
Immediate support is at $3.8. A conclusive close above $4.5 may pump the coin back to $5.
From the daily chart, buyers are in the driving seat following the revival from the mid-week.
Traders may find entries on pullbacks above $3.8 to angle for $5 in the short term.
On the flip side, a wide-ranging bar closing below $3.8, forming a bearish engulfing pattern nullifying the outlook, slinging back price action to favor sellers.
In that case, BNT prices may fall to $3.1—the September 2021 low.