{"id":449923,"date":"2020-11-16T21:00:36","date_gmt":"2020-11-16T21:00:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=449923"},"modified":"2024-06-11T14:08:27","modified_gmt":"2024-06-11T14:08:27","slug":"yearn-finance-yfi-could-soon-moon-as-it-forms-highly-bullish-pattern","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/yearn-finance-yfi-could-soon-moon-as-it-forms-highly-bullish-pattern\/","title":{"rendered":"Yearn.finance (YFI) Could Soon \u201cMoon\u201d as It Forms Highly Bullish Pattern"},"content":{"rendered":"

Yearn.finance\u2019s YFI governance token has seen some immense volatility throughout the past few days and weeks, with buyers sending it rocketing over 100% from its recent lows while now attempting to hold it above a crucial resistance level.<\/p>\n

The selling pressure at this resistance had held strong throughout the past several days and weeks, with buyers ardently attempting to spark multiple downside movements when it reached this level.<\/p>\n

However, bulls are flashing signs of immense strength today and are now moving to flip this level into support. Holding above it could allow the aggregated DeFi sector to push higher, as YFI has become a benchmark indicator for this fragment of the market.<\/p>\n

One trader is also noting that a historically bullish pattern is bolstering YFI\u2019s current technical outlook.<\/p>\n

He believes that this could mean that the crypto is poised to see some significant upside in the near-term, potentially leading it up towards the lower-$20,000 region.<\/p>\n

Once the resistance that exists here is broken, the crypto could see a parabolic rise that allows it to set new highs.<\/p>\n

Yearn.finance Shows Signs of Strength as Bulls Break Key Resistance<\/strong><\/h2>\n

At the time of writing, Yearn.finance\u2019s YFI token is trading up nearly 6% at its current price of $18,600.<\/p>\n

Where the entire market trends in the near-term will depend largely on whether or not it can post a high time frame close above its key $18,000 resistance, which may soon become support.<\/p>\n

The break above this level favors bulls and indicates that significantly further upside could be in store for the cryptocurrency.<\/p>\n

YFI\u2019s ongoing uptrend also comes as the rest of the market begins pushing higher, with Bitcoin<\/a> nearing $17,000 while most altcoins closely mirror its gains.<\/p>\n

Trader Claims YFI Could Soon Push Past $20,000<\/strong><\/h2>\n

While sharing his thoughts on where Yearn.finance\u2019s YFI might trend in the near-term, one analyst explained that he is watching the lower-$20,000 region’s resistance levels.<\/p>\n

He notes<\/a> that a break above these levels could send it flying up towards its previous highs.<\/p>\n

\u201cSumthin like this for $YFI on the mid term. We break that target area and we go to moon once again.\u201d<\/p><\/blockquote>\n

\"Yearn.finance\"<\/p>\n

Image Courtesy of NekoZ. Source: YFIUSD on TradingView.<\/a><\/pre>\n
Where the Yearn.finance token closes its daily candle in the coming few hours should provide some insight into where it will trend<\/a> throughout the week ahead.<\/p>\n
Featured image from Unsplash.\r\nCharts from TradingView<\/a>.<\/pre>\n","protected":false},"excerpt":{"rendered":"
Yearn.finance\u2019s YFI governance token has seen some immense volatility throughout the past few days and weeks, with buyers sending it rocketing over 100% from its recent lows while now attempting to hold it above a crucial resistance level. The selling pressure at this resistance had held strong throughout the past several days and weeks, with buyers ardently attempting to spark multiple downside movements when it reached this level. However, bulls are flashing signs of immense strength today and are now moving to flip this level into support. Holding above it could allow the aggregated DeFi sector to push higher, as YFI has become a benchmark indicator for this fragment of the market. One trader is also noting that a historically bullish pattern is bolstering YFI\u2019s current technical outlook. He believes that this could mean that the crypto is poised to see some significant upside in the near-term, potentially leading it up towards the lower-$20,000 region. Once the resistance that exists here is broken, the crypto could see a parabolic rise that allows it to set new highs. Yearn.finance Shows Signs of Strength as Bulls Break Key Resistance At the time of writing, Yearn.finance\u2019s YFI token is trading up nearly 6% at its current price of $18,600. Where the entire market trends in the near-term will depend largely on whether or not it can post a high time frame close above its key $18,000 resistance, which may soon become support. The break above this level favors bulls and indicates that significantly further upside could be in store for the cryptocurrency. YFI\u2019s ongoing uptrend also comes as the rest of the market begins pushing higher, with Bitcoin nearing $17,000 while most altcoins closely mirror its gains. Trader Claims YFI Could Soon Push Past $20,000 While sharing his thoughts on where Yearn.finance\u2019s YFI might trend in the near-term, one analyst explained that he is watching the lower-$20,000 region’s resistance levels. He notes that a break above these levels could send it flying up towards its previous highs. \u201cSumthin like this for $YFI on the mid term. We break that target area and we go to moon once again.\u201d Image Courtesy of NekoZ. Source: YFIUSD on TradingView. Where the Yearn.finance token closes its daily candle in the coming few hours should provide some insight into where it will trend throughout the week ahead. Featured image from Unsplash. Charts from TradingView.<\/p>\n","protected":false},"author":499,"featured_media":449925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[79667,79666,81710],"class_list":["post-449923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-yfibtc","tag-yfiusd","tag-yfiusdt"],"acf":[],"yoast_head":"\nYearn.finance (YFI) Could Soon \u201cMoon\u201d as It Forms Highly Bullish Pattern<\/title>\n<meta name=\"description\" content=\"One trader is also noting that Yearn.finance's current technical outlook is being bolstered by a historically bullish pattern.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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