I. The Federal Reserve nominates the first decision-making member to clearly support cryptocurrencies, Miran.

News Aspect:

Policy proposals include maintaining low interest rates to protect crypto assets, allowing stablecoins to be backed by crypto assets, and piloting a DeFi regulatory sandbox; the Trump administration is simultaneously advancing the cryptoization of 401(k) pensions and strategic Bitcoin reserves.

Stimulated by this, the cryptocurrency market erupted on August 7-8: Bitcoin futures long positions surged by 23%, USDC's daily issuance increased by $5 billion, and Solana ecosystem project Jito Labs soared by 340% within 24 hours, becoming the first 'hundred times coin'. Policy dividends ignite institutional bullish sentiment, and the cryptocurrency market may enter a new upward cycle.

II. Technical Aspect: SOL touches key resistance level; after pullback, may迎迎主升浪

Combining SOL/USDT 1-hour candlestick chart, the current price trend shows three main characteristics:

  1. Key Price Level Game:

    • Resistance Level: $178 is a strong resistance level recently, with two touches on August 7-8 followed by pullbacks, the highest drop reaching 2.2%;

    • Support Level: The first pullback support level of $172.94 has been verified as effective; if it breaks, watch the 50% retracement level of $168.46.

  2. Volume Signal: A volume increase during the pullback near the resistance level shows short-term profit-taking, but overall volume hasn't shown panic selling, indicating that the main players are still in control.

    III. Shenlong's Personal Viewpoint

    Trend Prediction:

    • Short Term: Need to be cautious of the $178 resistance level being pressed again; if effectively broken, look up to $185-$190;

    • Medium to Long Term: Policy dividends combined with the explosion of the Solana ecosystem, such as Jito Labs and Jupiter projects, point SOL towards the $200 mark.

SOL Future Prediction: Current price is $174. If it can stabilize in the $172-$173 range, combined with favorable policy stimuli, it is expected to break $180 this week, aiming for $200 within August! Pullbacks are opportunities; don't let historic trends slip away!

Shenlong is bullish in the long term; at what price level will you choose to increase your position? Do you think SOL can break $180 in this week's market?

Blindly going solo will never bring opportunities. Follow Shenlong to explore tenfold potential coins! Top-tier resources! Follow Shenlong's trend

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