[Tan Sir on Stocks 25.8.29] Focus on the cryptocurrency market, addressing each aspect individually.

The atmosphere in the global financial markets continues to improve, $Dow Jones Industrial Average(.DJI.US)$ and $S&P 500 Index(.SPX.US)$ setting new historical highs, $Nasdaq Composite Index(.IXIC.US)$ and closely tracking historical peaks. In the case of Hong Kong stocks, despite adjustments at this week's highs, $Hang Seng Index(800000.HK)$ they remain stable above the 50-day moving average, only testing the bottom of the ascending channel. $Hang Seng TECH Index(800700.HK)$ They are still within the ascending channel. The outlook for Hong Kong and U.S. stocks has been shared in detail over the past two weeks; today, we will discuss the performance of the cryptocurrency market.

The reason for the favorable market conditions is primarily due to the anticipated interest rate cuts in the United States, which create room for a decrease in risk-free rates, benefiting global asset prices. Ethereum has even reached a new historical high.

In the latter half of this upward wave, $比特幣 (BTC.CC)$ The price is relatively not particularly strong. The market's focus is on the concept of RWA, which has little correlation with BTC. The concept of BTC is that of a 'digital gold asset,' based primarily on its rarity, with only 21 million coins available.

From a judgment standpoint, the monetary policy of the Federal Reserve is a key factor. Tonight's PCE data and next week's non-farm payroll data to be released in the U.S. will be critical, as they will influence market perceptions regarding the pace of interest rate cuts in the short term.

Resistance level: 117,000

Support level: 111,000

This wave of upward movement has shown the strongest performance. $以太幣 (ETH.CC)$ The price has also broken through historical highs. The application concept of RWA remains a market theme. The recent momentum of institutional inflows into ETH-related ETFs can serve as a short-term reference indicator. As long as the overall concept of RWA trading remains unchanged, ETH is still relatively stable, and the concept of gas fees incurred during trading is an important factor supporting Ether. Technically, the upward trajectory is still maintained.

Resistance level: 5,000

Support level: 4,260

Lastly, it is worth mentioning that new transactions can be added. $Solana (SOL.CC)$ Although this year's trend has lagged behind, the main reason is simply that it has risen too much over the past two years. Many institutions have begun to hoard SOL as reserves, and the launch of SOL's ETF is one of the focal points, with applications of SOL also present in the concept of RWA. This has led to the strongest short-term price movements, exhibiting signs of catching up.

Immediate resistance level: 220

Medium-term resistance level: 260

Support level: 187

(The above content is for educational purposes only and does not constitute any recommendation)