Crypto Risk Off Into Jackson Hole — Key Altcoin Technical Analysis: ETH, LINK

TL;DRToday's note covers:

Powell at Jackson Hole and first GENIUS Act comments

Renewed ETF outflows in BTC & ETH

U.S. Treasury stablecoin law, Solana ETF delay

Ecosystem updates: Solana, Heaven, Infinit, Jupiter Lend, Monad

Technical analysis: Ethereum, Chainlink, Aerodrome, Pendle

The Week Ahead

Markets will key on Powell’s tone at Jackson Hole (Aug 21–23).

The first wave of GENIUS Act comments will show where regulators draw lines on reserves and disclosures.

ETF flows in BTC and ETH will be closely watched, along with India’s TDS review for signs of easing.

Macro & Markets

Crypto moved risk-off into Jackson Hole, with BTC slipping to ~$113k and
ETH to ~$4.2k. U.S. spot BTC ETFs swung back to outflows (−$122M on Aug
18), while Ether ETFs saw $197M exit Monday, their second-largest daily
loss ever. ETF flows, now the marginal driver, flipped sharply after
strong July inflows, leaving the market thin and sensitive to headlines.

Policy & Regulation

The U.S. Treasury opened public comments on the GENIUS stablecoin law,
which will define licensing, reserves, and disclosure rules. Legal
debate highlights bankruptcy protections that could reshape issuer risk.
In parallel, Tether hired former White House crypto adviser Bo Hines,
signaling a push to align with U.S. policy.

Ecosystem Highlights

Solana (SOL): The SEC has pushed back decisions on Solana spot ETFs from Bitwise and 21Shares until October. Despite the delay, traders on Polymarket are betting big, with approval odds climbing to 99% by October.

Heaven (LIGHT): The Solana launchpad wars are heating up again. A new player called Heaven, with its token $LIGHT, has quickly taken about 40% of revenue share, directly challenging PumpFun’s dominance.

Infinit (IN): Infinit is preparing to roll out its V2 public beta. The AI-powered platform is designed to make DeFi more intuitive, offering a smoother and more user-friendly experience for both newcomers and advanced users.

Jupiter Lend (JUP): Jupiter’s decentralized lending protocol is about to go live in public beta. Built on Solana in collaboration with Fluid, Jupiter Lend will allow users to borrow and lend in a fully on-chain environment, extending Jupiter’s growing DeFi ecosystem.

Monad (MON): Monad
is an upcoming Layer 1 chain boasting 10,000 TPS through parallel EVM
execution. With mainnet on the horizon, the project is drawing
significant attention on X for its advanced tech and potential to
challenge existing high-performance blockchains.

ETHEREUM

Ethereum has finally broken free from its long-standing megaphone formation, propelling prices to a weekly peak of $4,329. It’s currently holding near $4,300.

Technicals are firmly on the side of the bulls. ETH trades above every major moving average, the 50-day has crossed above the 200-day, and momentum indicators like MACD remain positive. With all signals aligned, the path higher looks clear. A move to $7,000 is increasingly on the radar, that’s about 60% above today’s price.

The significance of clearing $4,000 shouldn’t be underestimated. This level has been a wall for years, yet buyers forced their way through with conviction and volume. That strength suggests $4K now flips into a line of defense, one that bulls are unlikely to give up easily, even in the face of macro headlines out of Jackson Hole.

In the near term, ETH may consolidate before pressing higher, offering traders a window to build positions around the $4,000–$4,300 zone. History favors those who buy when sentiment is cautious and sell when markets turn euphoric. If you’re betting on further upside this year, now looks like the moment to prepare.

LINK

LINK is attempting to re-enter the 24 to 34 range, a zone that has historically opened the door for rallies toward 34. Holding above 24 is key, even if short-term dips below occur during retests.

With just a week left in August, a monthly close above 24 would strengthen the case for continuation. Failure to reclaim it could drag price back to 19.4, a level that has often served as a volatile but reliable base in bullish cycles.

In short, LINK’s outlook depends on the close: hold 24 and aim for 34, or revisit 19.4 before the next move higher.

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