This Technical Pattern Suggests Yearn.finance (YFI) Could See a Massive Breakout
Yearn.finance’s YFI token has been consolidating within the mid-$20,000 region throughout the past few weeks, with its recent parabolic surge from lows of $7,500 getting slightly overheated after it approached $30,000. As the DeFi trend kicks back into full gear and trading volumes on decentralized exchanges pick back up, there’s a strong possibility that yVault yields will continue increasing, thus boosting the underlying value of the YFI token.
Yearn.finance’s YFI Token Consolidates in Mid-$20,000 Region At the time of writing, Yearn.finance’s YFI token is trading down marginally at its current price of $24,000. YFI is “Squeezing” – Which Could Mean That a Bullish Breakout is Imminent One trend that may be working in Yearn.finance bulls’ favor is that the cryptocurrency is pinched within the apex of a bullish triangle formation.