Tue, February 27

YFI Prepares for a New Surge to Over $60,000 Before BTC

YFI Prepared for a Surge to Over $60,000 Before BTC Altcoin News
-Yearn.Finance prepared for a surge to over $60,000 before BTC.
-In 2020, YFI traded higher than Bitcoin. 
-YFI will reach an eye-watering $200,000 per coin.

After weeks of aggressive selling, Yearn.Finance (YFI) prepared for a move to $60,000 before Bitcoin. 

In early 2020 Andre Cronje launched YFI. Moreover, YFI is an Ethereum-based protocol focused on giving its users access to the highest yields on deposits of Ether, stablecoins, and altcoins. However, in 2020, YFI traded higher than Bitcoin. 

Yet despite all, the price of YFI unexpectedly spiked 50% to a new all-time high at $52,700. More so, three days before Bitcoin cracked the $50K mark.

Yearn.Finance (YFI) Price Prediction

According to CoinGecko, the YFI price is at $43.5k with a 24-hour trading volume of over $564 million, at the time of writing.

YFI/USDT Price Chart (Source: TradingView)
  • Resistance Level 1 – $55,485
  • Resistance Level 2 – $65,000

The chart shows the great performance of YFI over the past 1-month. More so, the chart shows a 52% candle marked on January 7. After which the price consolidated for a period of over 10 days. 

Again the price starts to surge gradually 52%, this indicates the same flagpole that happened before. Now, the good news for YFI token holders is that the charts are now showing the exact same pattern with a 50% candle. This would bring the price target up over $65,000.

Moreover, many altcoins in the DeFi space have slowly established themselves. More so, the increase in cryptocurrency investors could push digital assets like YFI to the moon in the upcoming weeks.

Furthermore, a move to the 0.786 Fibonacci level, can still put a potential upside target around 350%. This indicates that YFI will reach an eye-watering $200,000 per coin.

Disclaimer: The opinion expressed in this chart solely the authors. It does not interpreted as investment advice.

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