YFI price correction risks
However, YFI trading volume fell despite the rall, suggesting the low conviction among traders in its upward movement.bearish divergence between price and volume leads to either correction or consolidation till conviction increases. As a result, the likelihood of YFI at least pausing its ongoing price rally is high, with its daily relative strength index also entering its overbought zone above 70, a sell signal.Additionally, the Yearn Finance token's latest price rally has brought it closer to a known inflection zone near $40,000, as shown via the Fibonacci retracement graph in the chart below.In detail, the 0.
Nonetheless, if the bulls manage to push the YFI price above the 0.618 line decisively, they may also take the token out of its multi-month range defined by circa $25,500 as support and $40,000 as resistance. In that scenario, YFI's next upside target may move towards the 0.5 Fib line around $51,000.
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