Cardano Dan's Newsletter - Issue #171
Purpose
Quote of the Day
“If you're alive, there's a purpose for your life.”
― Rick Warren
Rick wrote a book called the Purpose Driven Life. It’s a good book and has encouraged a lot of people to live life with a purpose.
I firmly believe that God has a purpose for everyone reading this newsletter. Have you considered your purpose recently? If not, maybe the holiday season will offer a little time and space to consider what your purpose may be.
In The News
The PGA Tour is the latest big name to be pursuing its own NFT platform. We’re still VERY early.
Speaking of NFTs Bored Ape Yacht Club flipped CryptPunk floor prices (lowest available NFT). The least expensive Bored Ape was listed for 53.9 ETH, or $215,067, at the time of writing.
Cardano Updates
The Cardano Foundation published a 2021 Cardano Year in Review. It’s well worth the read.
There are less than 24 hours remaining in the first of only four Zombie Concepts auctions. The winner receives a very limited Concept NFT, a physical drawing of the Concept signed by Brian Allen, and Zombie Points enabling guaranteed access to the January Zombie Hunters drop.
Technical Analysis / Price Discussion
Cardano ADA has had a good couple of days of price action. ADA is testing the next important level of downtrend resistance and it looks like a pretty healthy test to me.
If ADA is able to break out of that down trend, there is a gap in the Volume Profile that suggests to me that ADA could move to test re-entry into the bull cycle channel and the important $1.50 level.
If Cardano ADA reclaims the bull cycle channel and the $1.50 level, it may be game on for a big move higher. If not, I remain cautious in the short-term.
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.