Yearn.finance’s YFI governance token has seen some immense volatility throughout the past few days and weeks, with buyers sending it rocketing over 100% from its recent lows while now attempting to hold it above a crucial resistance level.
The selling pressure at this resistance had held strong throughout the past several days and weeks, with buyers ardently attempting to spark multiple downside movements when it reached this level.
However, bulls are flashing signs of immense strength today and are now moving to flip this level into support. Holding above it could allow the aggregated DeFi sector to push higher, as YFI has become a benchmark indicator for this fragment of the market.
One trader is also noting that a historically bullish pattern is bolstering YFI’s current technical outlook.
He believes that this could mean that the crypto is poised to see some significant upside in the near-term, potentially leading it up towards the lower-$20,000 region.
Once the resistance that