Yearn Finance Price Prediction – Will YFI Price Hit $60K Soon?

This Yearn.Finance (YFI) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our YFI price analysis and prediction.

Among the cryptocurrencies that are spiking high this year, YFI is perhaps one of the most surprising for some. It is one of the most hyped digital currencies today. But for those that are unaware, it has been around since 2020.

Can YFI reach $60K in 2021? We will find out shortly. But before we proceed to our YFI price prediction, let us first answer the question “What is Yearn.Finance (YFI)?” in this YFI prediction 2021 article.

What is Yearn.Finance (YFI)?

Yearn.finance is an aggregator service for the investors of decentralized finance (DeFi), using automation to enable them to maximize profits from yield farming. Moreover, its aim is to simplify the ever-growing DeFi space for investors who are not technically minded or who wish to communicate in a less committal manner than serious traders.

Yearn.Finance’s native token YFI, reached its new ATH of $93,435.53 on May 12, 2021. Now that we have an idea about YFI, do you think YFI will be profitable crypto in 2021? Join me and let us see the charts in this YFI price prediction.

Yearn.Finance (YFI) Current Market Status

As of the time of writing this YFI price analysis, YFI trades at $33,284.70 with a 24-hour trading volume of $184,203,642, according to CoinMarketCap. The price of YFI has increased by 4.48% in the last 24 hours.

Furthermore, YFI has a current circulating supply of 36,635.44 YFI. Currently, the top cryptocurrency exchanges for YFI are Binance, OKEx, FTX, Huobi Global and LocalTrade. Now, let’s proceed to the next part of this YFI price analysis for 2021.

Yearn.Finance (YFI) Price Analysis 2021

Currently, YFI holds the 87th place on CoinMarketCap. But will the latest upgrades, developments, and changes in the YFI blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this YFI price prediction article.

Based on the chart above, YFI positions itself along with the raging bulls. Today, YFI trades at a high price of $33,284.70. In addition, we can see that YFI recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line.

More so, the chart shows the Higher Highs and Higher Lows from this price pattern. In addition, this pattern represents a short-term bullish.

In other words, YFI is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with YFI.

Conversely, if the bulls turn against the crypto, the price of YFI might fall. In short, YFI might break out from its uptrend position and nosedive to a bearish price. Indeed, this price level is not a good picture in the eyes of the investors.

The Relative Strength Index (RSI) is close to 41.44, which means that YFI is in a nearly oversold state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of YFI.

Since the start of 2021, YFI’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, YFI has a competitive market this 2021.

Yearn.Finance (YFI) Price Prediction 2021

The chart below shows that YFI has performed great over the past few days. Moreover, the YFI price over 12% in the last 7 days. If this trend continues, YFI might run along with the bulls, overtaking its $58,712 resistance level and reach higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone YFI from its uptrend position. In simpler terms, the price of YFI might drop to almost $24,911, a bearish signal.

Meanwhile, our long-term YFI price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $93,435.53. However, it is impossible for YFI to reach this level within this year.

Yearn.Finance (YFI) Price Prediction 2022

If this bullish trend continues, YFI will reach $75K by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $80K. Then the rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $75K is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Yearn.Finance (YFI) Price Prediction 2023

If YFI holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $100K, making it not plummet but play consistently.

Yearn.Finance (YFI) Price Prediction 2024

As per the latest upgrades, developments, YFI price prediction, and new project forecasts of the platform, YFI investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of YFI in the crypto market, and it will be the best investment as the price can spike and reach around $120K.

Yearn.Finance (YFI) Price Prediction 2025

In the next four years, YFI prices could rise up to $145K. More so, reaching this level could not be so difficult for YFI as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that YFI has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

YFI has a bright future ahead of it in 2021. With the ongoing developments happening within the YFI ecosystem, as well as in the overall crypto market, we may see YFI reach new heights.

Bullish YFI price prediction 2021 is $58,712. As said above, it may even reach $60K if investors have decided that YFI is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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