• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision

Trader: Yearn.finance Likely to See One More Dip Before Rocketing Higher

Cole Petersen by Cole Petersen
2 years ago
in YFI
Reading Time: 2 mins read
Advertisement

Yearn.finance’s YFI token is trading up significantly today, with bulls aiming at providing the cryptocurrency with a strong foothold within the lower-$20,000 region.

Where the aggregated crypto market trends in the near-term will likely depend on Bitcoin and Ethereum, with the strength seen by these two digital assets helping to provide the DeFi sector with serious momentum over the past few days and weeks.

YFI’s immense momentum throughout the past few days and weeks has created a tailwind for the broader altcoin market, but it is now pushing up against some immense resistance levels that may slow its ascent.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

One trader who forecasted this latest leg higher for the cryptocurrency is now predicting that it will see a short-term pullback.

He believes that this will be followed by another leg up that sends the crypto flying significantly higher.

The key resistance to watch now sits at roughly $21,000. The selling pressure here has proven to be significant, and a failure to break above this level could cause it to see significant near-term downside.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Yearn.finance’s YFI Rallies Past $20,000 as Uptrend Kicks Off

At the time of writing, Yearn.finance’s YFI token is trading up roughly 10% at its current price of $20,200. This is where it has been trading throughout the past morning, with the resistance at $21,000 slowing its ascent.

Its ongoing upswing has come about as the result of the strength seen by Bitcoin and Ethereum.

If these two cryptocurrencies can continue pushing higher, then higher risk altcoins like Yearn.finance’s YFI token may also be able to surmount its crucial near-term resistance.

As a whole, the DeFi sector will likely follow YFI’s lead, as it has become one of the primary benchmarks for this fragment of the market.

YFI May See One Pullback Before Rocketing Higher – Trader Claims

While sharing his thoughts on where Yearn.finance’s YFI might trend next, one analyst explained that the visit to $21,000 will likely mark a short-term top followed by a slight retrace lower.

He believes that this will be followed by a rally that allows it to post another leg higher.

“YFI close on the 21 marker. Just shy. I see a small pull back before the next leg up,” he said while pointing to the below chart.

Yearn.finance

Image Courtesy of NekoZ. Source: YFIUSD on TradingView.

The coming few days should provide some serious insights into where Yearn.finance’s YFI and the rest of the DeFi market will trend in the days, weeks, and even months to come.

Featured image from Unsplash.
Charts from TradingView.
Tags: yfibtcyfiusdyfiusdt
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

YFI, YFIUSD, YFIBTC, YFIUSDT, cryptocurrency

Yearn Finance’s YFI Hits $50K Before Bitcoin as Grayscale Shows Interest

2 years ago
YFI

Yearn.finance Founder Andre Cronje Drops Hints About v2 Vaults

2 years ago
This Legacy Crypto has the “Largest Bullish Divergence Ever,” Claims Analyst

Yearn.finance (YFI) Could be Coiling Up for a Rally; Analysts Eye $27,000

2 years ago
Here’s Why Yearn.finance’s YFI Could Soon Gain Some Explosive Momentum

Here’s Why Yearn.finance’s YFI Could Soon Gain Some Explosive Momentum

2 years ago
Bitcoin Altcoins

It’s “Bounce or Die” for Yearn.finance’s YFI as Selling Pressure Ramps Up

2 years ago
Here’s the Key Level Yearn.finance (YFI) Needs to Break to See Price Discovery

Here’s the Key Level Yearn.finance (YFI) Needs to Break to See Price Discovery

2 years ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Bashar DAO Launches BASHAR Token: For the Betterment of the Arab Region

March 26, 2023

Futures of metaverse tokens like The Sandbox (SAND), and Decentraland (MANA) are very blurry, while Defi Giant RenQ Finance (RENQ) remains the hottest crypto of 2023

March 26, 2023

TMS Network (TMSN) Poised to Become the Next 1000x Token, Magic (MAGIC) Down 8.38%, and Binance (BNB) among the few Cryptos with an Exciting Future

March 26, 2023

ShibaLauncher: First Community Driven Launchpad on Shibarium Opens Token Pre Sale To SHIB Holders

March 25, 2023

As the competition in the derivatives market heats up, BitMake is poised to stand out

March 25, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.