YFI price jumped more than 20% as DeFi bulls rallied shortly after Bitcoin surged past $18,000
The DeFi token Yearn.finance (YFI) climbed over 20% amid renewed bullish momentum across the cryptocurrency market.
As Bitcoin’s price shot above $18,000 and energized the broader crypto market, YFI buyers pushed the token higher by nearly $4,000. The rally lifted YFI from just above $21,000 to an intraday high of $24,885.
However, the token later pulled back modestly and was trading around $23,400 at the time of writing. A period of sideways action is likely. The price may also dip into the $22,000–$21,000 range before attempting another upward move toward the $25,000 resistance level.
YFI price outlook
YFI remains in an overall uptrend despite facing slight downward pressure on the 4-hour chart. The token printed two red candles after YFI/USD broke above a rising channel pattern during the recent rally.
Price currently sits above the 20-period exponential moving average (EMA) and the 50-period simple moving average (SMA) on the shorter timeframes. These moving averages should provide support if prices pull back below the upper boundary of the channel.
YFI/USD 4-hour price chart. Source: TradingView
On the daily chart, YFI shows a healthy support zone around the 20-day EMA near $16,635 and the 20-day SMA near $14,665. Although the daily RSI hints at a possible bearish turn, bulls are likely to stay in control as long as the price remains above the trendline.
YFI/USD daily price chart. Source: TradingView
While YFI is still far from its previous peak near $44,000, the move toward $25,000 is notable—especially considering the token traded as low as $7,500 on November 5.
If underlying fundamentals remain strong and the wider DeFi market continues to recover, YFI could test resistance in the $30,000–$32,000 area.
At the time of writing, total value locked (TVL) across DeFi protocols exceeds $13.4 billion, and the value locked in YFI increased by approximately 11% in the past 24 hours. Currently, DeFi TVL stands at more than $13.4 billion, with roughly $414 million in assets locked in YFI.
Yearn.finance, however, remains behind SushiSwap, Aave, Uniswap, Compound, WBTC and Maker, each of which holds over $1 billion in TVL.