{"id":439578,"date":"2020-09-24T20:00:44","date_gmt":"2020-09-24T20:00:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=439578"},"modified":"2020-09-24T19:17:25","modified_gmt":"2020-09-24T19:17:25","slug":"yfi-on-life-alert-after-weak-attempt-to-hold-support","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/yfi-on-life-alert-after-weak-attempt-to-hold-support\/","title":{"rendered":"Yearn.finance (YFI) On \u201cLife Alert\u201d After Weak Attempt To Hold Support"},"content":{"rendered":"

Yearn.Finance (YFI) had such an abrupt rise to fame<\/a>, now that momentum has changed, the plunge could be equally as dramatic. Thus far, any attempt to hold above support has been weak, says one crypto analyst.<\/p>\n

They also claim that YFI is currently on “life alert” and in danger of a much more drastic fall if the DeFi token cannot hold strong here.<\/p>\n

Yearn.Finance Falls Back To Support At Recent Local Low, Lingering On “Life Alert”<\/h2>\n

The popularity in DeFi tokens like Yearn.Finance, LEND, UNI, and several others<\/a> have been what’s propelled the crypto market back toward profitability and out of the bear market gutter.<\/p>\n

The trend has become so dominant in the crypto space, the term “DeFi” now outweighs all mentions of Ethereum in the media by a large margin.<\/p>\n

Related Reading | Top Defi Dogs YFI, LEND, and UNI Correct Nearly 20%<\/a><\/strong><\/em><\/p>\n

ERC-20 tokens even outgrew Ethereum’s market cap<\/a> when combined, because of how popular and profitable the trend has become. Nearly every new week, another DeFi token turned little investment into a small fortune.<\/p>\n

But now, the tides have been turning, and top DeFi dogs have been digging for bones, causing them to fall deeper than anyone would have expected<\/a>. It has also left YFI on “life alert” according to one crypto trader<\/a>.<\/p>\n

\"yfi<\/p>\n

YFIUSDT Yearn.Finance Retesting Support | Source: TradingView<\/pre>\n
YFI Flying High Could Lead To Dramatic Collapse To Bitcoin Prices<\/h2>\n
YFI, for example, has tumbled from more than four times the price of a Bitcoin to just $22,000 per token. And while that sounds expensive for any token to beat out Bitcoin in price, its quite a feat.<\/p>\n
That achievement alone<\/a> was enough to cause Yearn.Finance value to skyrocket in its earliest days. But like Bitcoin, it got overheated too quickly and is now pulling back big time.<\/p>\n
YFIUSDT finds itself back falling to support previously tested<\/a>, that its now at risk of losing. If Yearn.Finance loses this support, it could fall back toward Bitcoin prices.<\/p>\n
Related Reading | Yearn.Finance (YFI) Flies 15% Percent From Local Price Floor, Fractal Targets $60K+<\/a><\/strong><\/em><\/p>\n
What makes this token so much more valuable than Bitcoin price-wise, is just like the leading cryptocurrency by market cap itself: digital scarcity.<\/p>\n
There are only 30,000 YFI tokens, making what little liquidity to enter the token supply a powder keg for explosive price action. Unfortunately, this also works in reverse, as YFI holders are seeing right now<\/a>.<\/p>\n
But when the DeFi token finally turns back around, it could be an investment of a lifetime due to just how limited the supply is.<\/p>\n
Featured image from DepositPhotos, Charts from TradingView<\/pre>\n","protected":false},"excerpt":{"rendered":"
Yearn.Finance (YFI) had such an abrupt rise to fame, now that momentum has changed, the plunge could be equally as dramatic. Thus far, any attempt to hold above support has been weak, says one crypto analyst. They also claim that YFI is currently on “life alert” and in danger of a much more drastic fall if the DeFi token cannot hold strong here. Yearn.Finance Falls Back To Support At Recent Local Low, Lingering On “Life Alert” The popularity in DeFi tokens like Yearn.Finance, LEND, UNI, and several others have been what’s propelled the crypto market back toward profitability and out of the bear market gutter. The trend has become so dominant in the crypto space, the term “DeFi” now outweighs all mentions of Ethereum in the media by a large margin. Related Reading | Top Defi Dogs YFI, LEND, and UNI Correct Nearly 20% ERC-20 tokens even outgrew Ethereum’s market cap when combined, because of how popular and profitable the trend has become. Nearly every new week, another DeFi token turned little investment into a small fortune. But now, the tides have been turning, and top DeFi dogs have been digging for bones, causing them to fall deeper than anyone would have expected. It has also left YFI on “life alert” according to one crypto trader. YFIUSDT Yearn.Finance Retesting Support | Source: TradingView YFI Flying High Could Lead To Dramatic Collapse To Bitcoin Prices YFI, for example, has tumbled from more than four times the price of a Bitcoin to just $22,000 per token. And while that sounds expensive for any token to beat out Bitcoin in price, its quite a feat. That achievement alone was enough to cause Yearn.Finance value to skyrocket in its earliest days. But like Bitcoin, it got overheated too quickly and is now pulling back big time. YFIUSDT finds itself back falling to support previously tested, that its now at risk of losing. If Yearn.Finance loses this support, it could fall back toward Bitcoin prices. Related Reading | Yearn.Finance (YFI) Flies 15% Percent From Local Price Floor, Fractal Targets $60K+ What makes this token so much more valuable than Bitcoin price-wise, is just like the leading cryptocurrency by market cap itself: digital scarcity. There are only 30,000 YFI tokens, making what little liquidity to enter the token supply a powder keg for explosive price action. Unfortunately, this also works in reverse, as YFI holders are seeing right now. But when the DeFi token finally turns back around, it could be an investment of a lifetime due to just how limited the supply is. Featured image from DepositPhotos, Charts from TradingView<\/p>\n","protected":false},"author":517,"featured_media":439592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,4],"tags":[134,6664,54512,1946,79664,79667,82817,79666,81710],"class_list":["post-439578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-analysis","tag-altcoin","tag-crypto","tag-defi","tag-ethereum","tag-yfi","tag-yfibtc","tag-yfieth","tag-yfiusd","tag-yfiusdt"],"acf":[],"yoast_head":"\nYearn.finance (YFI) On \u201cLife Alert\u201d After Weak Attempt To Hold Support<\/title>\n<meta name=\"description\" content=\"Yearn.Finance (YFI) had such an abrupt rise to fame, now that momentum has changed, the plunge could be equally as dramatic. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Yearn.finance (YFI) On \u201cLife Alert\u201d After Weak Attempt To Hold Support","url":"http:\/\/uniquehot.com\/news\/yfi-on-life-alert-after-weak-attempt-to-hold-support\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/yfi-on-life-alert-after-weak-attempt-to-hold-support\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/09\/yfi-life-support-Depositphotos_30634311_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/09\/yfi-life-support-Depositphotos_30634311_xl-2015-scaled.jpg?fit=2560%2C1920"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","defi","ethereum","yfi","yfibtc","yfieth","yfiusd","yfiusdt"],"dateCreated":"2020-09-24T20:00:44Z","datePublished":"2020-09-24T20:00:44Z","dateModified":"2020-09-24T20:00:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Yearn.finance (YFI) On \\u201cLife Alert\\u201d After Weak Attempt To Hold Support\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/yfi-on-life-alert-after-weak-attempt-to-hold-support\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/yfi-on-life-alert-after-weak-attempt-to-hold-support\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/yfi-life-support-Depositphotos_30634311_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/yfi-life-support-Depositphotos_30634311_xl-2015-scaled.jpg?fit=2560%2C1920\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"defi\",\"ethereum\",\"yfi\",\"yfibtc\",\"yfieth\",\"yfiusd\",\"yfiusdt\"],\"dateCreated\":\"2020-09-24T20:00:44Z\",\"datePublished\":\"2020-09-24T20:00:44Z\",\"dateModified\":\"2020-09-24T20:00:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/09\/yfi-life-support-Depositphotos_30634311_xl-2015-scaled.jpg?fit=2560%2C1920","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/439578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=439578"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/439578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/439592"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=439578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=439578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=439578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}