Yearn Finance price prediction clearly shows according to Bitcoin Gorilla, that YFI crypto coin could soon be heading for $100k or more in the Next pump. The last time Yearn Finance(YFI) made an All-Time High of $95217( 12 May 2021), Afterwards, YFi price plummeted to $23447. This dump created a sideways market, that YFI is still currently in.
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What is Yearn Finance?
Yearn Finance is a cryptocurrency, also referred to as YFI. It’s a decentralized currency aiming to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank. According to Ethereumworldnews Yearn Finance has a maximum supply of 30,000 YFI compared to Bitcoin’s 21 Million.
Therefore, YFI is very much scarcer than Bitcoin by a factor of 700. This makes YFI one of the hottest Altcoins that can hit over $100k easily on a good pump again giving you over %1000 profit.
YFI Price Action Analysis On Weekly Chart (Binance)
In this analysis, Yearn Finance I will be using Multiple timeframes to look deeper into the price action of YFIUSDT Binance chart on 4hrs, 1D & 1W)
The weekly chart is currently exhibiting a doubt bottom and a clear higher low, It is no coincidence that the white buyers trending is also currently being respected. If the buyers can hold up above this white trendline. The current support is ranged from 3ok to 28k range. Holding above this price will lead buyers to force a breakout above the seller’s line to target $43173
Watch Video Technical Analysis on Yearn Finance(YFI)
Understanding that trading is a probability game will help us better understand why bears could also take a turn if the Price breaks below 30k, this range down to 28k is likely to hold buyers down but if for any reason it gets broken below, it could seek next the support of $26k to 24k range(Chances of this break down is very low now).
Yearn Finance Price Prediction Base On 1D Chart
We see clearly on the Daily Chart that YFI sideways is closely closing up on the apex of the triangle. this only means that breakout or breakdown will occur sooner than later. Price is likely to hold up this current support and once they do complete a retest to $42k, We will see a slight pullback but the price is likely to test next $56k
Yearn Finance Price prediction says price respecting buyers trendline while printing higher lows only create bull pressure that will force a seller’s hunt. Price could take a sprint to 43k if the current buyer’s force keeps upholding the current support
Yfi Crypto is one of the Altcoins that holds Good potential for 2022. I do see a dump coming to the whole crypto market based on the current BTC moves but YFI could take this pump before this dump big crypto dump happens. Investing into YFI coin base on 4hrs shows the sideways could still last for the rest of the week.
Understanding how the general crypto market gets affected by the King (BTC) is good when trading Altcoin. You can easily measure the rate of BTC dominance over all other altcoins using BTC.Dominance chart on Tradingview.
The monthly charts show that chances are high for Yearn Finance(YFI) to retest the last ATH of 95k and if not careful could explode through 100K, I see this ump coming But first YFI has to break above 43k to initiate this pump.
Is YFI a good buy at this current price since its’ on support?
I do see YFI taking a good leap to the upside once this breakout takes place, The current support down to 26k is all a good buy range. and could deliver fantastic results if the patient is implied. It’s important to know that the $95k move will not be an easy move or a parabolic one just yet until we have a clear breakout. I do see a retest taking place once YFI hit 43k and 56k range as a result of previous resistance.
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