One of the hottest cryptocurrencies in recent weeks has been Yearn.finance (YFI). The project fundamentals are food for thought, but its price is also a relatively new approach in the cryptocurrency markets, with YFI valued at over $30,000 per YFI, or three times the price of one BTC, albeit with a much smaller market cap.
Nevertheless, it has caught the attention of traders and its price also surged in the past few days after Coinbase Pro announced on Sep. 10 that it will list the token shortly.
Yearn.finance tests support at $19,000 and surges with 100%
YFI/USDT 1-day chart. Source: TradingView
The 4-hour chart is showing a beautiful price construction. A massive impulse wave was seen at the end of August as the price of Yearn.finance surged to $38,900. The local top here was confirmed through a bearish divergence, starting a short-term trend reversal.
As the dropdown was strengthened by the weakness of Bitcoin, the price of YFI