Yearn.finance’s YFI governance token has been struck hard by multiple bearish developments as of late, with the cryptocurrency’s price reeling down towards where it was trading at before its parabolic move to highs of $40,000.
The intensity of this decline has come about as a result of a confluence of factors surrounding its fragmented community as well as a weakening market structure.
Its weakness may be further compounded by another controversial project currently being created by the Yearn founder that has, once again, resulted in serious losses for investors.
This could be perpetuating the already large “founder risk” assigned to YFI due to the founder – Andre Cronje – and his multiple failed initiatives.
From a technical perspective, however, four main factors are currently working in its favor.
One analyst believes that these factors still bolster its bull case and could help lead it higher in the days and weeks ahead.
Yearn.finance Price Continues Struggling as Selling Pressure Remains