Yearn.finance’s YFI token is trading up significantly today, with bulls aiming at providing the cryptocurrency with a strong foothold within the lower-$20,000 region.
Where the aggregated crypto market trends in the near-term will likely depend on Bitcoin and Ethereum, with the strength seen by these two digital assets helping to provide the DeFi sector with serious momentum over the past few days and weeks.
YFI’s immense momentum throughout the past few days and weeks has created a tailwind for the broader <a class="wpg-linkify wpg-tooltip" title="
AltcoinAltcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.
” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin market, but it is now pushing up against some immense resistance levels that may slow its ascent.
One trader who forecasted this latest leg higher for the cryptocurrency is now predicting that it will see a short-term pullback.