CARDANO - The Future? Or All in the Past?
ADA is at this point a member of the decently old boys club. Or at the very least it's one of those cryptocurrencies I commonly have conversations with people outside of cryptocurrency about.
You know, normal people. My uncle has asked me about ADA; I've had like 6 co-workers ask me about ADA over various side gigs. (Joe I'm looking at you 👀) My uncle doesn't ask me about LINK or UNI or other stuff, it's just weirdly mainstream is my ultimate point I suppose.
It's been around for a while, from all the way back in 2017. Remember when block chain technology and smart contracts were like totally cool new age technology bro. Oh a simpler, nobler time. DeFi was just a dream in a young fraudst-- I mean boys mind. Chef's weren't making and dumping sushi, cakes weren't getting swapped. No real food memes actually, that degeneracy is a recent trend.
Anyway. Cardano is a proof-of-stake based systems with honestly a seemingly fantastic team behind it. The company has made multiple strides to incorporate it as a payment method with various mainstream retailers despite their coins price shrinking into complete obscurity.
And yeah, you'll probably be able to get a crypto credit card from them. At this point you'll basically need an over the shoulder ammo belt to carry all your crypto credit cards; at least the LINK marines will be in to it.
As for actual technical analysis;
We're trading in a decent downward channel since the start of August.
If you notice, the ADA likes it's fib levels.
It's showing pretty good support at the current level, though we're still in the channel.
If you want to buy some ADA and make some money, wait for the breakout. I've circled the likely areas.
It's either going to be at this support level or the next, if you're the conservative type, just spread your buys over this region and if they don't hit move on to the next opportunity or buy in higher.
MACD is on it's way up but showing a cross towards bear with shrinking greens
stoch just leaving oversold and middle of the road strength wise.
EMA We have EMA 200 as a support currently.
OVERALL
I'd expect some more short term drops but nothing crazy, next fib level or the next purple rectangle if you're looking at my chart. Aim for higher fib levels on the breakout, ADA jumps between them like clockwork so don't get caught out in between and don't set your SL right on one or in a liquidity area beyond it where you might get snapped up.
--
"Fettucini alfredo is macaroni and cheese for adults." - Mitch Hedberg
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
You know, normal people. My uncle has asked me about ADA; I've had like 6 co-workers ask me about ADA over various side gigs. (Joe I'm looking at you 👀) My uncle doesn't ask me about LINK or UNI or other stuff, it's just weirdly mainstream is my ultimate point I suppose.
It's been around for a while, from all the way back in 2017. Remember when block chain technology and smart contracts were like totally cool new age technology bro. Oh a simpler, nobler time. DeFi was just a dream in a young fraudst-- I mean boys mind. Chef's weren't making and dumping sushi, cakes weren't getting swapped. No real food memes actually, that degeneracy is a recent trend.
Anyway. Cardano is a proof-of-stake based systems with honestly a seemingly fantastic team behind it. The company has made multiple strides to incorporate it as a payment method with various mainstream retailers despite their coins price shrinking into complete obscurity.
And yeah, you'll probably be able to get a crypto credit card from them. At this point you'll basically need an over the shoulder ammo belt to carry all your crypto credit cards; at least the LINK marines will be in to it.
As for actual technical analysis;
We're trading in a decent downward channel since the start of August.
If you notice, the ADA likes it's fib levels.
It's showing pretty good support at the current level, though we're still in the channel.
If you want to buy some ADA and make some money, wait for the breakout. I've circled the likely areas.
It's either going to be at this support level or the next, if you're the conservative type, just spread your buys over this region and if they don't hit move on to the next opportunity or buy in higher.
MACD is on it's way up but showing a cross towards bear with shrinking greens
stoch just leaving oversold and middle of the road strength wise.
EMA We have EMA 200 as a support currently.
OVERALL
I'd expect some more short term drops but nothing crazy, next fib level or the next purple rectangle if you're looking at my chart. Aim for higher fib levels on the breakout, ADA jumps between them like clockwork so don't get caught out in between and don't set your SL right on one or in a liquidity area beyond it where you might get snapped up.
--
"Fettucini alfredo is macaroni and cheese for adults." - Mitch Hedberg
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Comment:
Sweet hits bro :)
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
