Yearn.finance’s YFI token is once again going parabolic, with investors pouring massive capital into it as its price rockets towards $30,000.
This marks a massive rise from its recent lows of $7,500 set just a few days ago, with buyers taking full control of the cryptocurrency as they aim to send its price rocketing towards $30,000.
The intensity of its recent recovery has come as all the “blue-chip” DeFi tokens see intense rebounds from their recent lows, signaling that this entire sector may make a resurgence in the near-term.
YFI’s latest leg higher may also have come about due to the Yearn.finance founder teasing decentralized option trading in a recent tweet.
$30,000 is a crucial resistance level that analysts are closely watching. The support and resistance here have been quite intense in the past, which would make a break above or below this level technically significant.
One analyst is noting that it is already showing some signs of being