Top crypto analyst predicts a bullish continuation for Solana and two under-the-radar altcoins
A popular trader says he sees more upside for smart contract platform Solana (SOL) and two tokens flying under the radar.
Pseudonymous Galloping Clark told his 158,900 Twitter followers that traders who continue to bet against the Ethereum rival are likely to be blown out of their positions by a short push.
“This weekend will probably be going crazy for alts.
SOL goes to +$30 before this is all over.
A lot of pressure from this level seems obvious.”
A short squeeze occurs when traders who are borrowing an asset at a certain price in hopes of selling it at a lower price to make up the difference are forced to buy back the borrowed assets when momentum moves against them moves, triggering further rallies.
At the time of writing, Solana is changing hands for $25.
Next is move-to-earn token STEPN (GMT), which it predicts is likely to rally towards its target at $6.63.
“They are still active on social media and I expect they will start making announcements and try to raise prices again to take advantage of this rally. Reclaiming and retesting a setup widely seen on all alts is also on the table. Send.”
At the time of writing, GMT is trading at $0.49.
The last coin on the trader’s radar is Optimism (OP), a Layer 2 scaling solution for Ethereum (ETH). According to Cantering Clark, he expects OP to print new all-time highs.
“OP is on the verge of pricing. That means everyone who sold before was wrong, and new highs usually bring inflows from all types of traders.
New all-time high after a long time is +expected value buy.
Send.”
At the time of writing, OP is exchanging hands for $2.24, slightly above the trader’s $2 resistance area.
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Featured image: Shutterstock/Vink Fan/Natalia Siiatovskaia