🔴 SOLT is trading 3% down today as it consolidates after a recent short-covering rebound

SOLT is trading at $31.55 (3% down) in pre-market as the fund gives back a portion of its recent gains.

• The 2x Solana leveraged ETF had climbed on July 30 driven by short-covering interest and renewed demand following a period of crypto volatility.
• With no fresh company-specific news, the current pullback appears to be normal consolidation after the recent sharp upward move.