• Yearn.Finance price is having a tough time deciding which direction to take. 
  • Several on-chain metrics seem to be extremely positive for YFI in the long-term.

YFI is currently trading at $21,900 but without a clear short-term direction. The digital asset seems to have a great long-term perspective according to various on-chain metrics.

Yearn.Finance price could be poised for a breakout soon

There seems to be a lot of interest in YFI in the past month. The number of new addresses joining the network has increased by 27% in the past week. Similarly, active addresses also had a major spike since December 14.

yfi price

YFI New and Active Addresses chart

More importantly, the number of whales holding between 100 and 1,000 coins ($2,190,000 and $21,900,000) has increased tremendously over the past two months from 16 on October 18 to a current high of 39. In the past week alone, this number increased by five. 

yfi price

YFI Holders Distribution chart

This metric indicates that whales are prepared to hold YFI, increasing its buy pressure. On the 12-hour chart, the digital asset must hold the low of $18,360 and climb above the 100-SMA to potentially touch $25,000, which coincides with the 50-SMA. 

yfi price

YFI/USD 12-hour chart

However, bears have just established a downtrend on the 12-hour chart and aim to crack $18,360 support. A breakdown below this point can quickly drive Yearn.Finance price down to $16,000.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin consolidates after a new all-time high of $99,500

Bitcoin consolidates after a new all-time high of $99,500

Bitcoin remains strong above $97,700 after reaching a record high of $99,588. At the same time, Ethereum (ETH) edges closer to breaking its weekly resistance, signaling potential gains. Ripple holds steady at a critical support level, hinting at continued upward momentum.

More Bitcoin News
Sandbox hits fresh yearly high as on-chain metrics reach record highs

Sandbox hits fresh yearly high as on-chain metrics reach record highs

The Sandbox continued its rally and hit a fresh yearly high of $0.8680 in the early Asian session on Monday after surging over 121% last week. However, at the time of writing, SAND retraces and stabilizes around $0.7600.

More Sandbox News
Why is Dogecoin price down today?

Why is Dogecoin price down today?

Dogecoin (DOGE $0.4243) is retreating after reaching its highest levels since May 2021, suggesting a growing profit-taking sentiment among traders following Donald Trump’s win.

More Dogecoin news
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP