’s YFI governance token has been caught within a consolidation phase as Bitcoin, and the rest of the crypto market, also see some short-term sideways trading.

This lack of momentum has come about due to the DeFi sector’s stagnating growth, with investors largely sitting on the sidelines while they wait for capital to rotate out of lower-risk assets like Bitcoin and into the high beta DeFi markets.

Until traders and investors alike grow confident that upside is imminent for the aggregated crypto market, there’s a strong possibility that higher risk fractions of the market will continue struggling.

This could prove to be bearish for’s YFI, as it has seen stagnating growth as of late due to a combination of a disengaged and embattled community, low yields on their various vaults, as well as a weak technical situation.

The confluence of these factors could continue hampering its technical prospects in the days and weeks ahead.

That being said, one analyst is noting that there’s one level that could soon be broken above that may allow YFI to “stretch its wings” and rally higher.’s YFI Struggles to Match Gains Seen by Bitcoin and Ethereum

At the time of writing,’s token is trading down over 6% at its current price of $13,440.

This is around the price at which it has been consolidating for the past couple of weeks, with bulls facing massive inflows of selling pressure each time they try to push it higher.

It is now trading just a hair above its strong base of support at $13,000 established throughout the past few weeks.

If this level continues to be defended in the days and weeks ahead, it could act as a strong base for YFI to grow upon in the weeks ahead.

Analyst: YFI Could Rally Higher If It Breaks One Crucial Level

While speaking about the cryptocurrency’s technical outlook, one analyst observed yesterday that $15,300 is the crucial level that must be broken and held above for’s YFI to see greater momentum.

This level was broken for a short while over the weekend, but it faced a serious rejection here that sent it reeling to its current price.

“Break through the top of this immediate resistance and we could easily see it stretch it’s wings again.” YFI

Image Courtesy of Cold Blooded Shiller. Source: YFIUSD on TradingView.

Where it trends in the near-term will likely depend on the aggregated DeFi sector, which means it is vital for (YFI) that Bitcoin and Ethereum maintain their strength.

Featured image from Unsplash.
Charts from TradingView.
1% deposit bonus on crypto in buyucoin

1% Deposit Bonus & Withdrawal Fees On Crypto Deposit in BuyUcoin

BuyUcoin giving 1% deposit bonus on crypto and reimbursement of crypto withdrawal fees for Indian user who have funds on banned crypto exchange. In the wake of the recent ban ...
Read More
Bitcoin ETFs

A Decade in the Making: US SEC Approves 11 Bitcoin ETFs, Igniting Market Enthusiasm

After years of anticipation and regulatory scrutiny, the U.S. Securities and Exchange Commission (SEC) has granted approval to 11 Bitcoin ETFs applications, marking a significant milestone in the cryptocurrency and ...
Read More
Will Bitcoin Price Increase 200% When Bitcoin ETF Is Approved?

Will Bitcoin Price Increase 200% When Bitcoin ETF Is Approved?

Everyone wants to know that bitcoin will Bitcoin Price Increase 200% When Bitcoin ETF Is Approved? We talk about the Bitcoin ETF, an important part in the cryptocurrency space. According ...
Read More

10 Must-Have Features on Bitcoin Staking Site

Crypto has provided many benefits for online gambling, and almost all relevant gambling sites now offer it as a payment method.  With so many gambling sites, players, especially those without ...
Read More
Christmas in the cryptocurrency world arrives early as the pre-holiday crypto market heats up

Christmas in the cryptocurrency world arrives early as the pre-holiday crypto market heats up

Happy Cryptomas to all of you! During the bullish state of the crypto market, margin-lending platforms and decentralised exchanges were the most often used DeFi protocols. Bitcoin is Up 167% so ...
Read More
Share with Others