Yearn Finance forks outperforms Bitcoin again
Crypto trader Josh Rager calls yearn.finance fork YF Link undervalued and predicts the coin's price could take off.
YFI all set to surge towards $28,000 as upward pressure builds up
Bitcoin Price after hitting the $18,500 resistance with a massive rally last week, now corrected lower to trade at around $17,709 at press time.
Despite stagnation in the Bitcoin price, the decentralized finance (DeFi) space has surged higher today. The prices of leading defi tokens have shot higher almost double digits.
It seems that DeFi enthusiasts are eyeing YF Link hitting the unprecedented highs, much like the Yearn. finance token YFI. The prices of both YFI and YFL has been increasing since Nov 5.
YFL Price Analysis
YF Link price today is $601.66 USD with a 24-hour trading volume of $588,234 USD. YF Link Price is down 3.87% in the last 24 hours. The current CoinMarketCap ranking is #294, with a market cap of $30,152,157 USD.
Analyst Bullish on Yearn Finance Link ( YFL)
In his frequent tweets, popular crypto strategist and trader Josh Rager says decentralized finance (DeFi) project YF Link (YFL) is undervalued at its current price. In a tweet published exclusively to his followers, Rager said YFL was poised to take off, with an upside potential of over 71 percent given the project’s underlying fundamentals.
Another DeFi Maximilaist with twitter handle @gMAKcrypto believes that, YFL Price will rally above $2000
YFI Price Analysis
At the time of writing, Yearn Finance is trading at $26,221.89 with 13% gains. The Governance token is currently holding a market cap value of $785,810,240 with $1,026,377,187 trading volume.
The shorter-term two-hour chart shows that the price is trading inside a parallel ascending channel. A breakout above the resistance line would likely take the price to $26,000, while a breakdown from the channel could mean that the rally has ended.
Technical indicators do not yet show any weakness, indicating that the YFI price could resume its upward movement and break out. However, if the token fails to maintain the bullish momentum after the recent correction risks crashing back below $20,000.
Analyst claim YFI Price to hit $27,000 Today !!
While sharing his thoughts on where Yearn.finance’s YFI token might trend in the near-term, one trader explained that he is watching for a move to $27,000. He points to its negative funding rates as one reason why the crypto could see a strong push higher in the days and weeks ahead.