It has been a wild past few days and weeks for the Yearn.finance governance token. YFI bulls attempted to spark a strong uptrend earlier this week when they surmounted the $18,000 level, as this has long been a macro resistance level for the cryptocurrency.
The break above this level was technically significant, which seems to be confirmed by the subsequent rally that sent the crypto surging up towards the mid-$20,000 region.
Despite the intense selloff seen yesterday by both Ethereum and Bitcoin, YFI has remained strong and is entering what appears to be another full-fledged bull trend.
It is now down roughly 50% from its all-time highs, and rising yields within the yVaults and a renewed sentiment amongst investors indicates that serious upside could be imminent in the days and weeks ahead.
One trader is now noting that a move towards $27,000 could be imminent in the near-term.
He points to negative funding as a reason why upside is