Yearn Finance (YFI) and ThorChain (RUNE) Technical Analysis: What to Expect?

Yearn Finance and ThorChain prices are relatively weak. YFI/USDT has support at $31.5k, while RUNE/USDT is bearish below $7.5.

Yearn Finance (YFI)

The Ethereum-based project is an aggregator for DeFi services set to maximize yields from farming. Its low total supply YFI is for governance.

Past Performance of YFI

The YFI price is back to around H1 2021 lows as bears press lower, limiting buyers.

Although buyers are optimistic, sellers may emerge on top, forcing YFI lower, especially if there isn’t a conclusive break away from the 20-day moving average.

At the time of writing, YFI is down five percent against the USD though trading volumes are stable.

Day-Ahead and what to Expect

Technically, YFI/USDT buyers are in the driving seat in the short term.

As of writing, prices are ranging inside July 8 bull bar with tapering participation levels above $31.5k.

For sell trend continuation reflecting sellers of June and May, there must be a conclusive break below the middle BB, ideally with rising trading volumes and a wide-ranging bar.

YFI/USDT Technical Analysis

If YFI/USDT prices track above the middle BB and $31.5k, aggressive traders may find buying opportunities targeting $40k.

Meanwhile, risk-averse traders can wait for sufficient gains above $40k—the immediate resistance, before loading the dips, setting sight on $52k. Losses below $31.5k could freeze buyers, paving the way for YFI sellers.

ThorChain (RUNE)

The interoperable DEX depends on RUNE for utility.

Past Performance for RUNE

There are series of lower lows visible in the daily chart. In the short to medium term, sellers may take control.

However, this is subject to RUNE/USDT bulls overcoming $7.5—the immediate resistance levels.

As of writing, RUNE is down 10 percent on the last trading day.

Day-Ahead and what to Expect

The path of the least resistance remains southwards, poking holes on the strength of buyers.

As long as RUNE is below the middle BB, sellers can unload on dips, aiming for a retest of June 2021 lows at around $4.5.

However, for optimistic bulls, the series of higher highs relative to the lower BB may present a Launchpad for RUNE to retest $22 or May 2021 highs.

RUNE/USDT Technical Analysis

RUNE prices are accumulating, with caps at $7.5 and the middle BB.

Aforementioned, a close above $7.5 and the middle BB confirm bulls of July 8, setting the ground for a possible retest of $22.

Conversely, sharp losses below last week’s lows may see RUNE/USDT dump back to $4.5.