SOL surges! Powell's dovish tone ignites a crypto bull market, with three key technical indicators hinting at this!

The Fed has turned dovish! With Powell's clear signal at the Jackson Hole conference that "the time is ripe for policy adjustments," the crypto market is abuzz. SOL, a major player in this rally, surged in a single day, breaking through the crucial $200 mark!

News: Powell's dovish quartet ignites market sentiment

On August 23rd, Federal Reserve Chairman Powell, breaking with his usual cautious stance, bluntly stated that he "is not seeking a further cooling of the job market" and emphasized that "inflation is already close to our 2% target." These four positive signals directly ignited the market:

Rising expectations for interest rate cuts: The market is betting on an over 80% probability of a 25 basis point rate cut in September;

Loosening liquidity: A low interest rate environment is beneficial to non-yielding assets like cryptocurrencies;

Institutional capital inflows: Institutions such as BlackRock and Grayscale increased their holdings through ETFs, resulting in a net inflow of over $300 million in Sol (SOL) in a single day;

Bitcoin linkage effect: After BTC broke through $117,000, funds flowed into cost-effective altcoins, making Sol (SOL) the biggest winner.

Technical Analysis: Triple Breakout Signals; $200 Isn't the End

SOL's 1-hour candlestick chart shows that this surge has long been technically supported:

Key Resistance Breakthrough: The price has strongly broken through the psychological barrier of $200;

Perfect Volume-Price Coordination: Although recent trading volume has been below the 5-day moving average, the breakout saw an increase of over 15%, indicating the involvement of major investors;

Hidden Indicators: Although the RSI is approaching the overbought zone of 70, the MACD has formed a golden cross above the zero axis and has not shown a top divergence, suggesting that the upward momentum is still running high.

Tege's Exclusive View: Beware of a pullback after the positive news has been exhausted; $205 is the key.

Although the news and technical indicators resonate, be wary of the risk of short-term overheating:

Overbought signals are emerging: If the RSI breaks through 75, it could trigger a technical pullback;

$210 Resistance: This level is a previous high and requires a significant breakout to confirm the continuation of the bull market;

Sustainability of the Fed's "dovish" tone: If the September rate cut is less than expected, market sentiment may reverse.

Tege's Exclusive Trading Advice:

Adventurously wait for the RSI to pull back to around 60 and try a light long position.

Conservatively focus on the $191 support level.

If SOL holds above $205, the next target is $220!

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