Technical Analysis – Yearn Finance (YFI), PancakeSwap (CAKE), and UMA What to
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Technical Analysis – Yearn Finance (YFI), PancakeSwap (CAKE), and UMA What to

April 20, 2021      Dalmas Ngetich

Yearn Finance, PancakeSwap, and UMA technical analysis convey confidence and possible buy trend continuation. In a rebound, YFI/USDT prices may reach new 2021 highs of $72k while CAKE bulls target $30. On the other hand, a break above Mar 2021 highs could see UMA/USDT reach $44 in a buy trend continuation pattern.

Yearn Finance (YFI)

Yearn Finance is an ecosystem. Related Yearn Finance technical analysis lends support to what creators say and are optimistic of the trajectory YFI token presently takes.

Past Performance

The YFI price is rooted in an uptrend, adding double-digits on the last day versus USD, BTC, and ETH.

Presently, the token is taking within a $12.5k range between $44k and $56.5k range.

At the same time, trading volumes have more than doubled to over 110 percent on the last day to $27 billion.

Days-Ahead and what to Expect

The uptrend is firm, and the YFI price is trading at $53k as of writing on Apr 19. Prices remain in range, but the general YFI/USDT trend is bullish.

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YFI price is at above Q1 2021 highs with an inverted bar.

Candlestick arrangement in lower time frames points to liquidation.

After Apr 18 bulls, bars are closing, banding along the upper BB, pointing to buyers from a top-down approach.

The middle BB, support of Apr 18, is the immediate support level.

YFI/USDT Price Forecast

Yearn Finance Daily Price Chart for Apr 19

The YFI price is in an uptrend, as Yearn Finance technical analysis shows.

A close above $53k, confirming Apr 18 bulls and nullifying the double-bar bear reversal pattern of Apr 16 and 17, will set in motion another wave of higher highs.

YFI bulls can target $72k—the 1.618 Fibonacci extension level in the medium term provided bulls close above $53k.

Losses below $42k invalidate the uptrend.

PancakeSwap (CAKE)

Binance Smart Chain (BSC) is providing a tough competitor for Ethereum. PancakeSwap rides on BSC’s rails facilitated by the CAKE governance token.

Past Performance

The CAKE price is trading in a bullish breakout pattern inside an intra-day $6 range with caps at $19 and $26, respectively.

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Trading volumes are increasing, adding four percent on the last day to $92 million.

Days-Ahead and what to Expect

PancakeSwap technical analysis points to bulls. Specifically, CAKE/USDT is trading in a bullish breakout pattern.

Apr 18 losses forced CAKE prices towards Q1 2021 highs in a retest. A close higher confirms yesterday’s retracement as a retest.

Still, CAKE/USDT prices remain in range mode within Apr 9 to 11 bull bars, a net positive from an Effort-versus-Results perspective.

CAKE/USDT Technical Analysis

PancakeSwap Daily Price Chart for Apr 19

CAKE is in an uptrend as buyers dominate.

Although trading volumes are light, the rebound from $20 could set in motion another wave of higher highs towards Apr highs.

Accordingly, provided CAKE/USDT prices are above $20, every low may be a loading opportunity for aggressive buyers. The immediate target is $30.

Sharp, high-volume losses below $20 will pour cold water on CAKE bulls advances.


Synthetics opens up more possibilities in DeFi, and UMA is precisely doing that to advance the sub-sector. UMA is the primary ten within its system.

Past Performance

The UMA price is trading within a $9 zone with support and resistance at $23 and $34, respectively.

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Overly, trading volumes are within range, adding 46 percent to $266 million on the last day.

Meanwhile, UMA/USDT prices are within a bull flag inside Feb 2021 trade ranges.

Days-Ahead and what to Expect

UMA technical analysis points to buyers.

On the last day, UMA/USDT remains largely in range in a potential accumulation. The UMA price is up 20 percent against the USD on the previous day, adding double-digits versus other BTC and ETH.

UMA/USDT is trading within a bullish break-out pattern after Apr 18 gains above Mar 2021 highs and $28.

Momentum is building since the middle BB retains a positive slant—suggesting demand in lower time frames.

UMA/USDT Price Analysis

UMA Daily Price Chart for Apr 19

UMA bulls are in control, as price action in the daily chart reveals.

In a bullish breakout pattern, aggressive traders can buy the dips provided prices are above $30. The first target is Feb 2021 and Q1 2021 highs of $44.

Reversals driving prices below $25 cancels the uptrend, paving the way for sellers to push UMA/USDT potentially back to $20—retesting Mar 2021 highs.

Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.