$YFI Based on the chart, here is the analysis for the potential maximum downtrend for YFI/USDT:
Key Observations:
1. Current Price: $8,668.0, with a minor gain of +2.42%.
2. Moving Averages:
The price is currently below key moving averages like $8,919.7 (100 SMA) and $9,358.2 (50 SMA), indicating bearish momentum.
The $10,552.4 (200 SMA) level is acting as strong resistance, making further upward moves challenging in the short term
Support Levels:
1. Immediate Support ($8,598.4):
This level is close to the current price and aligns with recent price action. A breakdown below this would likely accelerate the downtrend.
2. Stronger Support ($8,000):
A psychological level and potential consolidation area visible from past price movements.
3. Maximum Downtrend ($6,500–$7,000):
If the price breaks below $8,000 with strong selling volume, the next major support could be around $6,500. This is a previous accumulation zone and represents a key downside target in a bearish scenario.
Indicators to Watch:
Volume: Declining volume would indicate weak bearish momentum, but rising volume on a breakdown confirms further downside.
RSI: If RSI enters the oversold zone, a bounce from support levels could occur.
Summary of Maximum Downtrend:
Immediate Risk: $8,598.4.
Moderate Downside: $8,000.
Maximum Downtrend: $6,500–$7,000 in a highly bearish market.