Cardano Dan's Newsletter - Issue #165

Any Landing

Quote of the Day

“They say any landing you can walk away from is a good one.”

— Alan Shepard

Some people feel like they’ve been part of a space mission gone awry recently. Well, let the words of someone that’s actually walked on the moon inspire you today.

“Any landing you can walk away from is a good one.” If you’re still walking, you’re in good shape!

Key Takeaways from the Past Week

Monday - Sweet Fruit

We started the week considering how patience is no fun, but the end result of patience is worth the wait.

Wednesday - Nothing Permanent

Mid-week, we took note of the reality that change is guaranteed and it’s a good idea to learn to expect it and make the best of it.

Friday - Some Things

Friday I encouraged everyone to be prepared even for situations you don’t expect.

Technical Analysis

Another roller coaster of a week! Yesterday’s newsletter gave both a bull and bear case for Cardano ADA. Today is showing off the possibility that I’m right about my bull case. But it’s far from confirmed. Rather than rehash what I talked about yesterday, let’s jump right into the charts.

History doesn’t repeat itself, but it does rhyme. I think ADA price history is particularly interesting as it relates to the trendline it just bounced off of.

Previously ADA touched that trendline with a strong bounce, then retested more deliberately before moving higher with confidence.

Once again now, ADA touched the trendline with a strong bounce, and now has retested again more deliberately. If history rhymes, we may see something like the purple fractal shown below.

After a VERY strong day today, ADA has worked it’s way back into the bull channel and the purple fractal shows how it could ride it before breaking through resistance.

Looking at the crypto majors performance since March 2020 lows. ADA has retaken its place above SOL and BNB for the top spot again. We’ve seen this story before and I’m expecting ADA to outperform BNB, SOL, and ETH as DEXs go live.

Finally, looking at the market cap ratios against Bitcoin and Ethereum… Cardano ADA may be turning things around right as DEXs are about to launch. ADA has chalked up a green week so far against both BTC and ETH.

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

Before You Go

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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