Cardano Dan's Newsletter - Issue #133

Cause Happiness

Quote of the Day

“Some cause happiness wherever they go; others whenever they go.”

— Oscar Wilde

Some quotes make you stop and assess what kind of person you are. This one is like that for me.

I want to be the kind of person that causes happiness in my coming, not my going. I think we all know people that bring happiness to us both ways.

What steps can you take to make people happier wherever you go? That’s a question I’m pondering today.

Key Takeaways from the Past Week

Monday - Everyone’s Problem

Monday we talked about how the world’s financial problems are Everyone’s Problem now. We also took note of the launch of the Space Buds smart contract-based marketplace and Charles’s Africa trip.

Wednesday - Obsessed with Zombies

Mid-week we noted how NFTs are seeing a ton of adoption and excitement and shared about the new Zombie Chain’s twitter account.

Friday - No Alternatives

Friday’s newsletter discussed how it’s easy to clear the mind when there aren’t any alternatives and we unveiled the first look at a Zombie Chains NFT!

Technical Analysis

It’s been an interesting week for Cardano ADA. Relatively flat while invalidating both short-term resistance and long-term support trendlines. I’ve removed them from this weekly chart and we’re left with squeezing price action between the 50D & 100D EMAs and two very important horizontal support and resistance levels.

Volume is relatively low and I think ADA markets are waiting for either big adoption news or big economic/regulatory headwinds.

I’ve been discussing these considerations over the past several weeks and there’s not a lot of new insight to add today.

Looking at the crypto majors performance since March 2020 lows. Cardano still in a league of its own among majors. That “could” change if ETH, BNB or SOL make a run at Cardano ADA but I don’t expect that. ADA continues to look like it will be the best performing crypto major of this cycle’s bull run.

Finally, looking at the market cap ratios against Bitcoin and Ethereum… it’s another down week for ADA against BTC and ETH.

It does look to me like ADA is at important support levels in both pairs. Just follow the current price line back in history to see. Technical support alone won’t turn this pairs around though. Cardano needs smart-contract adoption to press into price discovery.

That’s it for the weekly recap. Hope you all have a great rest of your weekend!

Before You Go

Comments are turned on for this post. I’d love to hear your thoughts, questions, feedback, and reflections below.

This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies