$SOLUSD has jumped higher in the past day with a robust amount of gains; the results may attract traders towards Solana which continues to produce strong volatility.
is still within the lower realms of its price range, but traders who enjoy speculating on SOL/USD are likely attracted to its volatility which often seems to be proactive instead of reactive in the cryptocurrency marketplace. Yes, SOL/USD correlates to the broad market results of its major counterparts, but it may actually be one of the digital assets that lead the parade.
The price action in SOL/USD should be watched closely by speculators because if may offer clues regarding behavioral sentiment which could develop. If SOL/USD is able to display additional upside price action in the near term it may cause a sliver of optimistic sentiment in a marketplace which has been nervous for a long time.
Bearish traders who monitor Solana may believe the move higher late yesterday and early today are actual opportunities too.and expect that further downside action is going to develop. Traders cannot be blamed for doubting the upwards movement seen the past day, but they should use adequate stop losses to make sure they are guarding their trading accounts in case another spike higher is suddenly witnessed.
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