Analyst: Yearn.finance’s YFI to Move Past $30,000 as Strength Mounts
Yearn.finance’s YFI token has been surprisingly strong throughout the past few days, with its price holding well-within the mid-$20,000 region despite the selloff currently taking place across the aggregated crypto market. The narrative built throughout the past few months regarding shorting YFI being a higher return way to hedge against BTC downside may actually be one of the main factors behind its strength, as a short squeeze might have caused its latest rebound.
Yearn.finance’s YFI Shows Signs of Strength Despite BTC’s Downturn At the time of writing, Yearn.finance’s YFI token is trading up marginally at its current price of $23,500. Trader Claims YFI Likely to Rally Past $30,000 Next The combination of Yearn.finance’s YFI token’s technical strength, imminent product releases, and an ongoing MA spree indicates that it could buck the market-wide downtrend and rally higher in the days and weeks ahead.