Cryptocurrency analyst Cantering Clark told his more than 158,000 Twitter followers that investors who continue to bet on Solana, the strongest Ethereum (ETH) competitor, expect to be ejected, possibly in the face of a short squeeze.
“This weekend is probably going to be crazy for altcoins. SOL will go to $30 before it’s all over. It’s obvious there’s going to be a big short squeeze at this level.”
The term short squeeze refers to the situation that investors who have opened a short position (short) in an investment instrument face losses after a sharp increase in price and the pressure they face to close their positions. For short squeeze, metaphors such as “squeezing the shorts”, “squeezing the shorts” are also used among investors.
The second altcoin on Cantering Clark’s radar is STEPN (GMT), which he predicts will rise towards the $6.63 target. The analyst revealed the expectation of a rise in his assessment of GMT.
“They’re still active on social media and I expect them to start making announcements and raising prices again to capitalize on this rally. The general recovery and retest setup seen in all altcoins is also on the table. Send it in.”
The last altcoin on the analyst’s radar is Optimism (OP), a Layer 2 scaling solution for Ethereum. Cantering Clark expects Optimisim to see all-time highs (ATH):
“The OP is about to go into price discovery. That means everyone who has sold before is wrong, and new highs often bring in input from all kinds of investors. After a long period comes the new all-time high. Send it in.”