No traders may want to purchase Yearn Finance (YFI) after it plunges below $12,000, according to an independent analyst.
The pseudonymous entity said in a tweet on Wednesday that the Yearn Finance’s native token “is dead” if it fails to hold above the said support level. In a separate tweet, he published an outlook that showed YFI attempting to stay afloat inside a price floor zone (as shown in the chart below).
Yearn Finance is attempting to rebound from the blued range. Source: YFIUSD on TradingView.com Yearn Finance is attempting to rebound from the blued range. Source: YFIUSD on TradingView.com
The image above depicts YFI in a medium-term downtrend. It started after the token established its record high near $44,000 – and lately