Yearn.finance risks pullback after YFI price gains 100% in less than 3 weeks

Yearn.finance risks pullback after YFI price gains 100% in less than 3 weeks

Yearn.finance (YFI) looks poised for a price correction after rising five days in a row to approach $42,000. Notably, an absence of enough buying volume coupled with overbought risks is behind the bearish outlook.

YFI’s price surged by a little over 47% in five days to $41,970 as traders rotated capital out of “top-cap” cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) and looked for short-term opportunities in the altcoin market.

YFI/ETH and YFI/BTC daily price performances after token buyback program announcement. Source: TradingView
YFI/USD daily price chart featuring price-volume divergence. Source: TradingView
YFI/USD three-day price chart featuring Fib entry and exit levels. Source: TradingView

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