- Bullish YFII price prediction ranges from $2.4k to $3k
- The YFII price might also reach $3,000 soon.
- YFII bearish market price prediction for 2021 is $1.8k
This DFI.Money (YFII) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our YFII price analysis and prediction.
Among the cryptocurrencies that are rallying this year, YFII is perhaps one of the most surprising for some. It is not directly related to crypto king Bitcoin (BTC), nor is it the most hyped cryptocurrency today. But for those that are aware, YFII has been around since 2020.
Can YFII reach $3,000 in 2021? We will find out shortly. But before we proceed to our YFII analysis, let us first answer the question “What is DFI.Money (YFII)?” in this YFII prediction 2021 article.
What is DFI.Money (YFII)?
DFI.MONEY, also known as YFII, is a fork of the famous decentralized finance (DeFi) aggregator platform yearn.finance (YFI). Moreover, it is launched in July 2020, which focuses on optimizing returns for DeFi investors while adhering to changes proposed in an upgrade plan known as YIP-8.
In addition to protocol changes, DFI.MONEY has also launched new products, chief among which, the Vault, it explainds as its “killer product.” However, the native token of DFI.MONEY is YFII, a fixed-supply token that liquidity providers receive in accordance with their network interaction.
Now that we are clear about YFII do you think YFII will be beneficial crypto in 2021? Join me and let us see the charts in this YFII price analysis and YFII price prediction.
DFI.Money (YFII) Current Market Status
As of the time of writing this YFII price analysis, YFII trades at $2,064 with a 24-hour trading volume of $28,483,816. The price of YFII has increased by 5.16% in the last 24 hours.
Now, let’s proceed to the next part of this YFII technical analysis for 2021.
DFI.Money (YFII) Price Analysis 2021
Currently, YFII holds 322nd place on CoinMarketCap. But will the latest upgrades, development, and changes in the YFII blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this YFII price prediction article.
In the chart above, which is set in a daily time frame, we can see the Ascending Triangle pattern. This is an important indicator since YFII has been showing bearish over the past month. Consequently, the ascending triangle pattern indicates that YFII will finally go bullish.
In the foreseeable future, we can say that YFII has a higher chance of going bullish than bearish. As shown above, at the beginning of this month, YFII turned from its bear to bull trend. This is the result of the huge trade volume that occurred in that period.
The Relative Strength Index (RSI) is above 60, which means that YFII is in a nearly overbought state. With this traders need to stay cautious while trading, turning away from further losses.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of YFII
Since the start of 2021, YFII’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, YFII has a competitive market this 2021.
DFI.Money (YFII) Price Prediction 2021
The chart below shows that YFII has performed great over the past few days. Moreover, the YFII price shows a bullish trend. If this trend continues, YFII might run along with the bulls, overtaking its $3,000 resistance level and move higher.
Conversely, if the investors turn towards crypto, the bears might take over and push YFII from its uptrend position. In simpler terms, the price of YFII might plummet to almost $1,815, a bearish signal.
Meanwhile, our long-term YFII price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.
YFII has a bright future ahead of it in 2021. With the ongoing developments happening within the YFII ecosystem, as well as in the overall crypto market, we may see YFII reach new heights.
Bullish YFII price prediction 2021 is $3,000. As said above, it may even reach its new ATH if investors have decided that YFII is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Users can obtain YFII tokens by purchasing them from cryptocurrency exchanges such as Binance, OKEx, Huobi Global, CoinTiger, and FTX.
YFII is a good investment in 2021. However, YFII has a high possibility of reaching new heights this year.
Yes, it’s very much possible that YFII might reach $3,000 in the near future as per the current bullish trend.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.