Cardano Dan - Cardano Dan's Newsletter - Issue #139
Quote of the Day
― Bo Jackson I like Bo Jackson. And I guess I’m a little like him too. I like to go out and do new things. A couple years ago, I didn’t know much about NFTs. Today I’m part of a team launching a NFT collection on Cardano called Zombie Chains. We’re really proud of what we’ve done. Our collection is a new kind of thing. I really enjoy doing new things. If you haven’t bought an NFT before, maybe today is your day to do something new too. In The News
Cardano Updates
Technical Analysis / Price DiscussionCardano ADA FINALLY broke out of its very tight range. It broke down. It was quite quite a move. I’m sure it liquidated some folks and that’s what increased the size and speed of the drop. Here’s the 1 hour candle at the moment. Zooming out, ADA penetrated an obvious support level, but only briefly. Often times, a move like this is a fake move one way, before the real move the other way happens. It’s the market wiping out all traders except those with the strongest conviction before moving the direction that most people expected. That’s what I actually think is happening in this case. This may have been a very brief period of time for people to pick up ADA “on sale” before the Zombies drop. On the other hand, this could be the beginning of a larger move down. But, I think that’s really unlikely because of all of the volume that was put in between $1 and $1.75. If anything, I could see ADA filling in some volume (spending some time) in the gap in the VPVR profile between $1.90 and $2.00. If we don’t see a quick move back up over the coming days, we’ll continue evaluating alternative possibilities. On a positive note, thankful for some interesting price action to talk about again! See you at the Zombie Chains drop! 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. If you liked this post from Cardano Dan’s Newsletter, subscribe to get it 4 times a week! |
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Cardano Dan's Newsletter - Issue #138
Monday, October 25, 2021
Get Up
Cardano Dan's Newsletter - Issue #137
Sunday, October 24, 2021
Quality
Cardano Dan's Newsletter - Issue #136
Friday, October 22, 2021
No Shortcuts
Cardano Dan's Newsletter - Issue #135
Wednesday, October 20, 2021
Laughter & Pain
Cardano Dan's Newsletter - Issue #134
Monday, October 18, 2021
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