Yearn Finance (YFI) Price Prediction 2022 – Will YFI Hit $30K Soon?
- Bullish YFI price prediction for 2022 is $11418 to $25,677.54.
- The YFI price will also reach $30K soon.
- Bearish YFI price prediction for 2022 is $3886.
In Yearn Finance (YFI) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about YFI to analyze the future movement of the cryptocurrency.
Yearn Finance (YFI) Current Market Status
According to CoinGecko, the price of Yearn Finance (YFI) is $11,152.36 with a 24-hour trading volume of $78,366,969 at the time of writing. However, YFI has decreased to 3.2% in the last 24 hours.
Moreover, Yearn Finance (YFI) has a circulating supply of 31,574 YFI. Currently, YFI trades in cryptocurrency exchanges such as Binance, OKX, Bybit, Bitget, and MEXC.
What is Yearn Finance (YFI)?
Using automation, Yearn.finance serves as an aggregator for DeFi investors, allowing them to get the most out of their investment in yield farming. As the DeFi market continues to grow, it aims to make it easier and more accessible for investors who aren’t tech-savvy or who choose to engage in a less committed way than serious traders. For the larger investor community, Yearn.finance aims to simplify DeFi investing and activities like yield farming.
Yearn Finance (YFI) Price Prediction 2022
Yearn Finance (YFI) holds the 127th position on CoinGecko right now. YFI price prediction 2022 is explained below with a daily time frame.
The above chart of Yearn Finance (YFI) laid out the Descending Broadening Wedge pattern. It typically develops during a downward trend. The Descending Broadening Wedge widens as the two trend lines that have split from one another. This pattern indicates a bullish reversal in the price action. Although the pattern normally indicates a trend reversal, the decline could still continue.
Currently, Yearn Finance (YFI) is at $11,157.45. If the pattern continues, the price of YFI might reach the resistance level of $14099, $25677, and $41208. If the trend reverses, then the price of YFI may fall to $3886.
Yearn Finance (YFI) Support and Resistance Levels
The chart below shows the support and resistance levels of Yearn Finance (YFI).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Yearn Finance (YFI).
- Resistance Level 1 – $11418.17
- Resistance Level 2 – $16002.99
- Resistance Level 3 – $25366.19
- Support Level 1 – $7254.32
- Support Level 2 – $4032.42
The charts show that YFI has performed a bullish trend over the past month. If this trend continues, YFI might run along with the bulls overtaking its resistance level at $25366.19.
Accordingly, if the investors turn against the crypto, the price of the YFI might plummet to almost $4032.42, a bearish signal.
Yearn Finance (YFI) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Yearn Finance (YFI) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of YFI lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of Yearn Finance (YFI) is shown in the above chart. Notably, the YFI price lies above 50 MA (short-term), so it is completely in an upward trend. Currently, YFI is in a bullish state. There is a possibility of a reversal trend of YFI at any time.
Meanwhile, the relative strength index (RSI) of the YFI is at a level of 61.36. This means that YFI is in a nearly overbought state. However, this gives confidence to the traders to trade without any fear.
Yearn Finance (YFI) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Yearn Finance (YFI). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Yearn Finance (YFI). Currently, YFI lies in the range of 72.73, indicating a very strong trend.
From the above chart, the Relative Volatility Index (RVI) of Yearn Finance (YFI). RVI measures the constant deviation of price changes over a period of time. The RVI of YFI lies below 50, indicating low volatility. In fact, YFI’s RSI is at 61.36, thus confirming a potential buy signal.
Comparison of YFI with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Yearn Finance (YFI).
From the above chart, we can interpret ETH, BTC, and YFI are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and YFI also increase or decrease respectively.
Yearn Finance (YFI) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Yearn Finance (YFI) might probably attain $36K by 2023.
Yearn Finance (YFI) Price Prediction 2024
With several upgrades in the network, Yearn Finance (YFI) might enter a bullish trajectory. If the coin grabs the attention of major investors, YFI might rally to hit $40 by 2024.
Yearn Finance (YFI) Price Prediction 2025
If Yearn Finance (YFI) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, YFI would rally to hit $43K.
Yearn Finance (YFI) Price Prediction 2026
If Yearn Finance (YFI) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, YFI would rally to hit $47K.
Yearn Finance (YFI) Price Prediction 2027
If Yearn Finance (YFI) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, YFI would rally to hit $50K.
Yearn Finance (YFI) Price Prediction 2028
If Yearn Finance (YFI) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, YFI would hit $52K.
Yearn Finance (YFI) Price Prediction 2029
If investors flock in and continue to place their bets on Yearn Finance (YFI), it would witness major spikes. YFI might hit $58K by 2029.
Yearn Finance (YFI) Price Prediction 2030
With greater advancements in the Yearn Finance ecosystem, the crypto community might continue to invest in Yearn Finance (YFI) for the next 8 years and drive significant price rallies for the token. Hence, Yearn Finance (YFI) might hit $60K by 2030.
Conclusion
With continuous improvements in the Yearn Finance network, we can say that 2022 is a good year for YFI. For this reason, the bullish price prediction of Yearn Finance (YFI) in 2022 is $25677. On the other hand, the bearish price prediction of Yearn Finance (YFI) for 2022 is $3886.
Furthermore, with the advancements and upgrades in the Yearn Finance ecosystem, the performance of Yearn Finance (YFI) might hit $30K gaining investors’ attention. It would also rise above its all-time high (ATH) of $90,786.89 in the near future.
FAQ
YFI is a popular open-source library to access the financial data available on Yahoo Finance.
Yearn Finance (YFI) has been listed on many crypto exchanges including Binance, OKX, Bybit, Bitget, and MEXC.
With the ongoing developments and upgrades within the Yearn Finance platform, Yearn Finance (YFI) has a high possibility of reaching its ATH soon.
On May 12, 2021, Yearn Finance (YFI) reached its new all-time high (ATH) of $90,786.89.
Yearn Finance (YFI) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Yearn Finance in the past few months, YFI is considered a good investment in 2022.
Yearn Finance (YFI) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues, Yearn Finance (YFI) will hit $30K soon.
Yearn Finance (YFI) price is expected to reach $36K by 2023.
Yearn Finance (YFI) price is expected to reach $40K by 2024.
Yearn Finance (YFI) price is expected to reach $43K by 2025.
Yearn Finance (YFI) price is expected to reach $47K by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/yearn-finance-yfi-price-prediction/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
