Update #YFIUSDT
The YFI pair has broken through a strong horizontal resistance area (around $5,500) after a sustained upward trend supported by a clear upward trendline. This breakout indicates a shift in market structure from bearish to bullish on the daily timeframe, suggesting that buyers are regaining control.
The consolidation that lasted for several weeks below the resistance level formed a strong base, making the breakout more reliable.
Confirmation of trading volume will be crucial, but the clear breakout pattern indicates continuation after a potential slight retest of the $5,500 area, turning it into support.
If the retest holds, the next move is expected to be impulsive, targeting the $7,000 area or more, as breakouts from such a long accumulation range typically bring strong momentum.