Family, today let's talk about the recent rise and fall of Solana (SOL).

First, looking at the technical side, SOL has a key resistance level around 200 dollars. If it can firmly stay above 200 dollars, the next target is likely the previous high of 210 dollars. However, we need to pay attention to whether the trading volume continues to increase; without volume, this rise might be a bit hollow. But if it cannot hold above 200 dollars, the risk of a pullback arises, possibly testing the support zone of 188 - 192 dollars. If this support zone is also lost, we would have to look down to 175 dollars.

Now let's talk about on-chain data. On August 22, two new addresses withdrew 80,003 SOL from Binance, valued at about 14.7 million dollars at the time, and they staked it right after withdrawing. This clearly shows confidence in the long-term prospects of SOL. In terms of institutional holdings, SOL Strategies holds over 400,000 SOL and is continually expanding its reserves through reinvestment of node earnings, not including Jito SOL.

From the market dynamics perspective, let me share some operational thoughts. If the closing price confirms above 200 dollars, we can gradually enter long positions with a target of 205 - 210 dollars, and remember to set a stop-loss below 195 dollars. If the price approaches the 188 - 192 dollar support zone, we can consider buying on the dip, but once it breaks below 185 dollars, we have to take the stop-loss.

However, the trading guide given by Hao today is a bit different from what I've mentioned; I suggest shorting at high levels near 203.70 - 206.88, initially targeting 199.45, then 195.90. If it breaks, we could see 189.68. Everyone can refer to different strategies for more insights.