Two Cryptocurrencies with the Potential to Rise Rapidly for November 17!
The value that cannot be stored in cryptocurrency could have an impact, with BlackRock highlighting the risks that stablecoins such as USDT and USDC could bring to assets such as Bitcoin. The fact that stablecoins are attracting the attention of institutional players, especially those pursuing large assets, means that such reports come at a time when they can have an impact on the markets. A negative study about stablecoins by the Bank for International Settlements (BIS) also caused a decline in the market.
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The formation and presence of specific particles in the market may be important for making sense of their role. The status of short- and long-term developments can be an important indicator of the changes in market developments and developments.
In particular, a certain predominance of short sections can potentially increase the potential for compressing short sections. This could mark a point where prices could enter resilience. However, it may not always be correct to make market predictions based on a single indicator.
Short Squeeze Warning for Chainlink (LINK)
Chainlink (LINK), the Oracle blockchain built to mine real-world cryptocurrency, has suffered a major blow. LINK is trading at $13.47 per token at press time, with 24 recent losses.
Unsurprisingly, the 24-hour short split on rollover transactions is $773.20 million for 53.12% of all contracts in this time frame. In the 12-hour period, losses are shown with a decrease of 53.03%, amounting to 269.47 million dollars.
Will Polygon (MATIC) Be Compressed in the Short Term?
Another heavyweight cryptocurrency for short positions is Polygon (MATIC). MATIC recently opened a slightly smaller number of dollar-denominated short-term contracts with $217.51 million (52%) over 12 terms and $657.76 million (52.62%) over 24 terms.
The 10.17% loss in price of Polygon’s native token, MATIC, may indicate playability at the time a particular news is published. Price movements of this type may reflect prices in the markets and the amount above certain prices.
You noted that MATIC has a higher market cap and daily trading volume compared to Chainlink (LINK). This suggests that MATIC’s liquidity may be higher, reducing the impact of a short-term unwind or sudden price changes.
The rate and amount of short positions can indicate that an asset may be in a particular downtrend or squeeze in the market. The fact that tokens such as Chainlink (LINK) and Polygon (MATIC) are in high short positions relative to their market values may indicate that there is a certain negative expectation or perception of a price decrease.
It is important to say that a short relaxation in these markers does not continue to occur. Investors should do their own research and other data should be recorded in order to make profitable financial decisions. A higher amount of short positions can also be a sign of a decrease in pressure.
