Cardano Dan's Newsletter - Issue #146
Habit of Resting
Quote of the Day
“Laziness is nothing more than the habit of resting before you get tired.”
― Jules Renard
I was looking for a funny quote to share today and this tickled my funny bone.
Nobody has every accused me of being lazy. I definitely work too hard. I have to say, there is something that almost feels attractive about “resting before you get tired.”
Someday I may decide to try that out… I hope you won’t call me lazy when I do. I prefer that you would just say that I’m resting before I get tired.
In The News
The Infrastructure bill passed the House on late Friday including the flawed crypto tax reporting language. That’s not the end of the story though.
NFTs took over New York last week! The CoinDesk article is fairly informative except for the intentional exclusion of Cardano references - a bit odd considering to size of the NFT market on Cardano.
Cardano Updates
The Plutus Application Backend development and testing is making significant progress. On Friday, IOHK released a beta version of the integrated PAB on the testnet.
The Cardano Logo is featured on the cover of an upcoming edition of the Economist magazine along with Bitcoin, Ethereum, and Litecoin logos. I’m looking forward to seeing what they have to say about Cardano.
Technical Analysis / Price Discussion
I’ve talked quite a bit recently about Cardano ADA’s support levels.
Let’s look at some resistance levels as they look to me like they come into play sooner than later.
ADA looks set to breakout of the downtrend resistance (diagonal red line). $2.25 looks to be the first significant level to be tested. Once that’s flipped to support, $2.47 is the next important level. Once $2.47 flips, it is game on.
Of course, the support could fail instead, and then we’re looking to test lower levels that have been discussed previously. But when I look at fundamentals and technicals together, that is looking less likely to me by the day.
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.