1. Market Review: Storage Chips Weaken, ETH Consolidates at High Levels
Yesterday (August 24), the market showed a differentiated pattern:
SanDisk, SK Hynix: Continued to decline, further probing lower;
ETH (Ethereum): Maintained high-level fluctuations, a standoff between bulls and bears.
The trends of storage chips and crypto assets have diverged, with a clear signal of a shift in capital preferences worth noting.
2. Fundamentals: External Disturbances Suppress Risk Appetite
Last night, after the NASDAQ opened, it fluctuated downward, and SanDisk and SK Hynix accelerated the decline, putting pressure on market sentiment.
Meanwhile, a piece of news drew attention: According to reports, U.S. Treasury Secretary Yellen stated that she would "do whatever it takes" to respond to funds shorting long-term U.S. bonds, aiming to curb the upward momentum of 10-year U.S. Treasury yields reaching 5%. As a result, the upward movement of ETH was somewhat restricted, and the enthusiasm for risk assets was suppressed by external uncertainties.
This Week’s Key Variable: Jackson Hole Annual Meeting
On this Friday (August 28), the Kansas City Fed will hold its annual economic policy seminar in Jackson Hole, Wyoming, where Federal Reserve Chairman Waller plans to give a keynote speech.
In this context, Waller is facing multiple tests: inflation has continuously exceeded targets, U.S. Treasury yield fluctuations have intensified, and concerns from Congress regarding communications with Trump. Whether this new leader can provide a clear policy path in Friday's speech will be an important focus for global markets this week and may create phase disturbances in the crypto and forex markets.
3. Technical Analysis: Range-Bound Thinking Prevails
ETH (Ethereum)
The current high-level adjustment has not yet ended. From a technical perspective, the range oscillation of 2547—2355 may still continue. The strategy is to remain on the sidelines, waiting for clear direction before making judgments, avoiding chasing highs and cutting losses.
SanDisk
On the 4-hour level, the market ultimately did not effectively break below the 1448 key support level, indicating that there is still buying power below. However, the downward trend on the hourly level has not been reversed, and we still need to wait for clear signals following adjustments before considering the next direction.
SK Hynix
Yesterday, the lowest price was close to the second target level. For investors still holding positions, the stop-loss level can be moved down to around 1175 to control risk; for investors who have not yet entered the market, it is advisable to wait for the market's direction choice after a rebound and then assess whether new opportunities exist.
4. Summary
The short-term market is dominated by external macro factors, with increased volatility; be mindful of controlling positions and risks;
ETH is oscillating in a high range; maintain patience until direction is clear;
The storage chip sector is in adjustment, key levels remain intact, but the trend has not changed; wait for signals;
Focus on this Friday's Jackson Hole meeting, where the Federal Reserve Chairman's speech may become a market catalyst.
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