Cardano Dan's Newsletter - Issue #169

Greatly Exaggerated

Quote of the Day

“The reports of my death have been greatly exaggerated.”

— Mark Twain

If Cardano ADA had a voice, I think it might say something like this right now. If you listen to the trolls and talking heads - ADA recently died the death it was meant to die long ago. We shall see.

Key Takeaways from the Past Week

Monday - Hope of Advance

We started the week considering how important it is to question what is common accepted as truth for there to be the opportunity for advancement.

Wednesday - Secret of Freedom

Mid-week, I encouraged everyone to seek out diverse viewpoints and information, learn to be discerning, how to do research, fact-check your own information, and establish your own opinions based on various sources of news and information

Friday - Mighty Trunk

Friday we took time to reflect on how something really small like a seed can turn into something really big like a mighty trunk of a tree. Some many great analogies related to crypto.

Technical Analysis

Cardano ADA is showing some technical signs of life. Below you can see a bullish divergence with price putting in lower lows while RSI puts in higher lowers (this is 4 hour chart but daily shows something similar).

Zooming out to look at the weekly chart for all ADA price history, ADA is continuing to respect 2017/18 highs as very important and major support. It’s a very strong foundation for a big move higher if this level (and markets in general) hold while Cardano launches DEXs, DeFi, and DApps.

Looking at the crypto majors performance since March 2020 lows. ADA continues its fight with BNB and SOL for the top performing crypto major of this bull run.

Finally, looking at the market cap ratios against Bitcoin and Ethereum… ADA is green against both BTC and ETH this week and if you zoom in, you on these pairs (not marketcap necessarily) you can see that ADA is looking to break out of downtrends against both pairs.

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