Yearn.finance is an aggregator service for decentralized financial investors (DeFi), using automation to enable them to maximize profits from yield farming.
A burst of ideas by Andre Cronje launched in February 2020.
Yearn.finance aims to facilitate the ever -expanding DeFi space for investors who are not technically minded or interact in a less committed way than serious traders.
Next, let’s look at the YFI/USDT price movement chart.
The YFI price movement is seen to only record a jump of more than 300% from January to May 2021 by recording the latest all -time high (ATH) at the price level of $ 93,435 on May 12.
Yet the YFI failed to maintain a consistent positive movement until it slipped to a support level of around $ 28,000 at the end of May which was impacted by the Bitcoin (BTC) fall.
Furthermore, cryptocurrency market sentiment lacks strong support so the YFI price movement is still seen moving weakly to date, as are other cryptocurrencies.
From a technical point of view, the YFI price has passed the support level and is expected to rise again to the SBR zone (support become resistance) around $ 40,000.
The level will be tested first before making a higher increase or continuing the increase to the next SBR zone.
On the other hand, if the YFI price declines again, the support zone around $ 28,000 will be re -tested to either rebound or continue to decline to the lowest level ever recorded before.
At the time of writing, YFI/USDT is trading at $ 31,400 up over 1% in the last 24 hours. The coin is currently ranked 63rd on the crypto chart.
