Cardano Dan's Newsletter - Issue #26
April 10th, 2021 - Weekly recap and look ahead
Quote of the Day
“By failing to prepare, you are preparing to fail.”
― Benjamin Franklin
This week we talked about Arica and other Cardano and Blockchain news. Cardano price action has been slow. Are you using that relative calm to prepare your strategy for what comes next? You should. More on how I’m using this time below.
Key Takeaways from the Past Week
Monday - Cardano and Africa
We covered how there’s enormous business opportunity in Africa and technology is going to drive that growth. The Cardano team gets it and has traction already in a place it takes years to get traction.
Wednesday - Better than Charity
On Wednesday, I dug a little deeper into how Cardano could actually be better for the people of Africa than just giving money through charity.
Here’s an additional great clip on the topic from Charles Hoskinson’s recent keynote address for the 2021 Blockchain Africa Conference.
Friday - Together is Better
We wrapped up the week taking stock of everything that’s going on in the Cardano ecosystem and realizing that we’re better together because no one person can stay on top of it all.
Technical Analysis
Here’s a “no line” look at Cardano ADA’s daily chart. Overall it was a pretty boring week.
Price could break either way, but regardless of which direction it breaks, I expect it to happen soon.
I personally expect it to break higher. You can see that volume has been decreasing since the peak on the prior run and regardless of whether you draw the current pattern as a pennant or ascending triangle, both are bullish patterns.
I pullback could take place before the next run, but I’m not expecting it.
Even though things have been boring for ADA, Cardano still holds a slim margin over Binance for the best performance of any crypto major since 2020 March lows.
And Cardano continues to look like it’s established quality new support against BTC and ETH pairs for another run higher.
Look Ahead
Rather than spend a ton of time staring at charts, I’ve been using the current lull in price action to work on my exit strategy for this cycle (just a portion of my investments) and a proposal for Project Catalyst.
Next week I’m going to share some thoughts on both of these topics. I hope you’ll join me.
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