Cardano Dan's Newsletter - Issue #177

Needs Editing

Quote of the Day

“My life needs editing.”

— Mort Sahl

This is a funny way of putting something that is true for all of us. We live in a broken world where things aren’t perfect. There are times that each of us wishes we could edit something from our day, week, or year.

Want to make someone’s life better today? Pay attention to the people around you. Try to notice when someone is feeling like their life needs editing. Then give them a few encouraging words. You may change their life.

Key Takeaways from the Past Week

Monday - Better Man

We started the week with the objective to end the year as a better person than we started it. May that be true for you and me this year!

Wednesday - Find a Remedy

Mid-week, I encouraged everyone to look for solutions when you encounter problems instead of complaining about the problems. Doing so will make you and the people around you better.

Friday - Seeds You Plant

Friday we considered that not every day is a reaping day. Most days are planting days. The more seeds you plant, the larger your harvest will be later. So plant some seeds today!

Technical Analysis

Cardano ADA is suffering like the rest of crypto right now. What’s different about Cardano ADA is that it’s been since September since it had a good run, and if all of crypto doesn’t tank, it’s well-positioned to take off if Bitcoin stabilizes and DEXs launch as expected.

The chart below highlights the last two significant pull-backs for ADA during this run. The first one is more instructive as an example pull-back and reversal than the second one because the first one was after the Shelley launch and the second one is sandwiched in between the Coinbase listing and the Goguen launch (there were a lot of external factors at play on the price action).

We’re looking for some sort of reversal price behavior where a higher low and higher high get established over the coming weeks. I’ve included a fractal that shows what that could look like.

Looking at the crypto majors performance since March 2020 lows. ADA is back in the top spot, but not the way you want to see it happen. Although it has been showing impressive strength compared to others over the past week.

Which brings me to… market cap ratios against Bitcoin and Ethereum… ADA has broken out of downtrends in both BTC and ETH pairs. This happened right before AMM DEXs are about to hit Cardano Mainnet. There is potential for a big move in the near future if Bitcoin and crypto can stabilize.

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