Uniswap

Filecoin

<p>Recent increases in short positions have led many leading altcoins into a downtrend. If sentiment shifts, a significant short squeeze could occur in these altcoins in the coming hours or days. Currently, Filecoin (FIL) and Uniswap (UNI) are experiencing a considerable amount of short selling.</p>
<h2 id="short-squeeze-alert-for-filecoin-fil">Short Squeeze Alert for Filecoin (FIL)</h2>
<p>In the last 18 hours, Filecoin’s FIL has seen $53.44 million in long positions and $61.49 million in short positions (53.5%). Over the past 24 hours, there has been a similar long/short ratio with $88.87 million in long positions compared to $102.32 million in short positions (53.52%).</p>
<p><img decoding="async" class="aligncenter size-full wp-image-283119" src="https://coin-turk.com/wp-content/uploads/2023/12/Altcoin-Filecoin-FIL.jpeg" alt="" width="1948" height="90"></p>
<p>Interestingly, FIL is trading at $4.38, down 1.09% in the last 24 hours. This indicates a slight bearish sentiment on the altcoin, greed among short position holders, and potential upward liquidity for a possible short squeeze.</p>
<h2 id="uniswap-uni-may-surge-due-to-short-liquidity">Uniswap (UNI) May Surge Due to Short Liquidity</h2>
<p>On the other hand, Uniswap has opened $92.93 million in long positions against $102.39 million in short positions (52.42%) in the last 24 hours. The long/short ratio in the last 12 hours shows that 54% of the current open positions are bearish.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-283120" src="https://coin-turk.com/wp-content/uploads/2023/12/Uniswap-UNI-Altcoin.jpeg" alt="" width="1934" height="86"></p>
<p>Like FIL, UNI has also lost 2.73% of its value in the last 24 hours and is trading at $5.93. However, the altcoin’s volume over the past 24 hours is double the size of the short positions opened in the same time frame.</p>
<p>Given this situation, the current liquidity may be less enticing for triggering a short squeeze, and a further drop in Uniswap’s price may be required. Nevertheless, despite the high ratio of long positions to the proportionately low volume, <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> makers could still go hunting for shorts.</p>
<p>For those unaware, a short squeeze refers to the pressure faced by investors who have opened short positions in an investment instrument when they encounter losses due to a sharp price increase, forcing them to close their positions. As the price of an altcoin rises, investors who have bet on its decline begin to lose money. No matter how much the price increases, they technically need to buy back the altcoin to close the position. Short sellers have to pay higher prices to close their positions as the price rises, which creates more upward pressure on the price.</p>
<ul class="summary">
 <li>Increase in altcoin short positions noted.</li>
 <li>Filecoin and Uniswap may face squeezes.</li>
 <li>Market dynamics hint at potential rallies.</li>
</ul> Continue Reading: <a href="https://en.coin-turk.com/anticipating-a-short-squeeze-altcoins-ready-for-a-swift-turnaround/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/anticipating-a-short-squeeze-altcoins-ready-for-a-swift-turnaround/</a>

Anticipating a Short Squeeze: Altcoins Ready for a Swift Turnaround

Table of Contents

COINTURK NEWS

Other articles published on Nov 30, 2023

Polygon (MATIC) Price Prediction 2025, 2030, 2040 and 2050

Brazil set to implement a new crypto taxation policy

Flare Labs Tests FAssets on Coston Network, Eyeing Non-Smart Contract Tokens

ETH to $3,000? Here’s What the Technical Outlook Suggests

Road to Web3 Adoption: Real-World Application

The Battle of Memes: Savvy Investors Overlook Dogecoin and Pepe for this New P2E Memecoin

Join our free newsletter for daily crypto updates!