Cardano Dan's Newsletter - Issue #179
When Opportunity Comes
Quote of the Day
“The secret of success is to be ready when your opportunity comes.”
― Benjamin Disraeli
Opportunity doesn’t come knocking every day. You need to be ready to grab it when it comes. The Bible speaks to this spiritually with the Parable of the Ten Bridesmaids (Matthew 25:1-13).
The concept or opportunity and readiness applies to all sorts of things including investments. It’s quite possible the price levels we just saw (and still see) will be looked back upon as a huge opportunity.
In The News
Coinbase announced that ‘nearly the entire company will shut down’ for four weeklong breaks in 2022. This is to help the workforce to recharge after intense work periods. I get it. I feel like I’ve been sprinting for 18 months straight now. Props to them.
Inflation is up to 7% over this time last year. The fastest pace in almost 40 years.
Cardano Updates
Cardano reached a really neat milestone in the Cardano Global Impact Challenge. Fundraising is complete for planting 1 million trees and their planting will be recorded on the Cardano blockchain!
Zombie Hunters public NFT sale will be January 26th at 1700 UTC. Make sure the check out our Discord Server for additional details and check out the Angel we revealed today!
Technical Analysis / Price Discussion
It has been a great couple few days of price action for Cardano ADA! Does that mean the bull market is still on for sure? No.
But there are reasons to be hopeful that it is. ADA had dropped below important support and the point of control on the Volume Profile. BUT, the last three days brought ADA back ABOVE both.
Also, if you look at the current price action, it’s similar the July reversal that saw a very decisive bounce off of the bottom.
I’d like to see ADA break out of the downtrend resistance, secure $1.50 as support and move higher than $1.60 to establish a new higher high to feel confident that we are in fact reversing higher once again. This is what I’ve expected all along during this downtrend and there are reasons to be hopeful after some really discouraging price action the last several months.
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.