YFI, the Only Altcoin to Pass Bitcoin, Will Jump To These Levels!
The popular altcoin Yearn.finance (YFI) is once again becoming parabolic and investors are pouring large capital into the altcoin as the price rises to $ 30,000. This marks a tremendous rise from the recently set lows of $ 7,500. The recent recovery in YFI came as all the “blue chip” DeFi altcoins saw intense recovery from lows. According to analysts, this indicates that the entire sector may rebound in the near term.
The latest rise of YFI may be due to the Yearn.finance founder announcements regarding decentralized options trading. Now $ 30,000 is a crucial resistance level that analysts are watching closely. Support and resistance here have been pretty intense in the past, and this will technically create a break above or below this level. A $ 30,000 test at YFI could still be close, according to a popular analyst. How the altcoin reacts to the selling pressure here will likely set the medium-term trend, according to the analyst.
Famous analyst: Popular altcoin Yearn.finance (YFI) now targets $ 30,000
At the time of writing, Yearn.finance’s YFI token is trading with an increase of over 14% at its current price of $ 28,400. This marks a serious rise from the cryptocurrency’s low of $ 7,500. Where the cryptocurrency’s trend will be in the near term will depend largely on whether the bulls can block a refusal at $ 30,000. This is the critical short-term resistance level that analysts are watching closely.
Popular analyst Chase_NL announced in his new analysis that he is beginning to be wary of cryptocurrency. The analyst states that Yearn.finance’s uptrend could begin to slow down as the bulls push the price towards $ 30,000. The next few days will shed light on the next trend of the entire DeFi industry, as Yearn.finance becomes a reference for other cryptocurrencies. Popular analyst Chase_NL adds the following to his comments:
QUICK UPDATE ON YFI: I’VE CLOSED 60% OF MY LONGS ON THIS SWING HIGH, I THINK IT’S A GOOD PLACE TO MAKE SOME PROFIT. IF HE WANTS TO CONTINUE WORKING, HE WILL NOW TARGET THE AREA OF 30 THOUSAND DOLLARS.