Cardano Dan's Newsletter - Issue #166
Hope of Advance
Quote of the Day
“If we all worked on the assumption that what is accepted as true is really true, there would be little hope of advance.”
― Orville Wright
People who change the world work under a different set of assumptions than most.
We’re at an inflection point in history and I’m willing to challenge a lot of assumptions about finance and the way the world of finance works than most people are.
But I’m probably preaching to the choir. Many of you are willing to challenge the same assumptions. We may fail as a result of this bold approach. But on the other hand, we may see incredible success just like Orville and his brother.
In The News
CoinDesk recognized Chares Hoskinson *gasp* as one of the 50 people who defined the year in crypto saying he “brought smart contracts to one of the largest ‘Ethereum killers’ this year.”
"The characterization of inflation as transitory -- it's probably the worst inflation call in the history of the Federal Reserve," says Mohamed El-Erian. Adding that, “It results in a high probability of a policy mistake.” Yep.
Cardano Updates
Some Cardano Stake Pools operators have been running dual leader stake pools (some by accident and others on purpose). This gives these pools an unfair advantage, puts other stake pools at an unfair disadvantage, and hurts the network by creating unnecessary forks.
Chris and I have been very careful to avoid this practice and so have many other operators. We’d appreciate your support if you’re looking for a stake pool! Please consider delegating to DAN, DAN2, or RELY for performance you can trust and you’ll earn Zombie Chains points… which leads to…We announced the dates for the Zombie Coins NFT snapshot and sale! You can find additional in the Zombie Chains discord server announcements channel.
Why should you care? Because Zombie Chains Points are the path to guaranteed access to Zombie Hunters coming in January! Zombie Hunters will break even more “NFT Rules” than Zombie Chains!
Technical Analysis / Price Discussion
I’ve been doing a lot of zoomed out analysis of Cardano ADA recently. Let’s zoom in today.
The small downtrend channel shows the first important resistance for ADA to break on small time-frames.
The horizontal red line shows the first important level to regain and flip to support.
The horizontal bold green line is the point of control for the volume profile at the top of Cardano’s price action this year. It’s very big support.
The other bold green line is very big support that’s been tested a number of times now. But we really don’t want to see it tested much more or it could fail.
Together the bold green lines represent VERY important support. If they fail, ADA could go MUCH lower.
The big channel that you only see part of is the bull cycle channel and if ADA reenters and reestablishes that channel, it bodes very well for a continued bull cycle.
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.