Cardano Dan - Cardano Dan's Newsletter - Issue #174
Quote of the Day
― Benjamin Franklin There are all sorts of different ideas about whether or not to make New Year’s resolutions. Whether or not you think they’re a good idea, what most of us can agree on is that we want to be a better version of ourselves in the coming year. So that’s my wish for you in this first newsletter of 2022. May 2023 welcome you as a better version of yourself than you are today. Make the choices you need to each day this year so that happens. In The News
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Happy New Year! Technical Analysis / Price DiscussionBelow chart is a zoomed out view of the bull run since March 2020 lows. We’ve got the bull channel that’s broken down, 2017/18 highs which 2021 closed above, and then two support trendlines that are also included. The new trendline going back to the beginning of the bull run is the one I’d like to focus on today. It is not unusual for an uptrend support to break, only to reestablish a new uptrend support level below the last. I suspect that’s what we’re seeing happen here. Assuming I’m correct, and looking at a zoomed in view of things, I’ve added a few resistance levels to be paying attention to. $1.50 has been tested already in the past week or so. If that’s broken through and reclaimed as support, $1.90 appears to be the next major level to test and that may happen at the same time the downtrend resistance is tested. Of course looking to the downside, the green support levels on the chart are important to hold as support. Not shown, price action continues to remain above the key volume areas around $1.20 where a lot of support exists. Although we don’t want to see that tested a whole lot more if you’re looking for ADA to head higher soon. 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 #173
Wednesday, December 29, 2021
Few Wants
Cardano Dan's Newsletter - Issue #172
Monday, December 27, 2021
Human Connections
Cardano Dan's Newsletter - Issue #171
Thursday, December 23, 2021
Purpose
Cardano Dan's Newsletter - Issue #170
Monday, December 20, 2021
A Loophole
Cardano Dan's Newsletter - Issue #169
Sunday, December 19, 2021
Greatly Exaggerated
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