Yearn.finance (YFI) appears poised for a price correction after rising five days in a row to approach $ 42,000. In particular, the absence of sufficient buying volume coupled with overbought risks are behind the bearish outlook.
YFI’s price rally so far YFI’s price soared just over 47% in five days to $ 41,970 as traders rotated capital out of “large cap” cryptocurrencies like () and Ether (ETH ) and looked for short-term opportunities in the altcoin market.
#DeFi assets are showing some nice signs of growth to kick off 2022. $YFI, $UNI, and $AAVE are all ticking up nicely thus far with the first Monday of the year looking #bullish for several #altcoins. https://t.co/8ujolCvt5z pic.twitter.com/ASpf1dUbtn
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Reference-es.investing.com
