Cardano EXPLOSION To $6? Or Is It Time To Sell? | Crypto News
But with that comes the question: will it continue or is it time to sell right now and weve been asked about this topic with cardano a ton in our free cryptocurrency discord community? I will have that linked below as well on what we should do with cardano. Now that weve seen this major push up so today in this video ill, be using my six years experience as a day trader and crypto investor on what i think. The best plan of approach is, if youre, holding cardano moving into the next couple months or if this is really just the beginning of cardano, taking over the d5 space and benefiting from the adoption and growth of mfts, then a little bit later in the video were Going to take a look at some technical analysis and see some updates on where i expect to see cardano moving into the short term future and if that sounds interesting, make sure you hit the like button on this video and, if youre new to my channel, i Make content all about day trading crypto investing personal finance? So if those are things that suit your fancy make sure you hit the subscribe button turn on all bell notifications, so you know when i post and before we get into it. I want to congratulate everyone who partook in the wii: u private, sale, okay, we got in at .005 and now its currently trading at about 6 cents per token, so thats extremely exciting.
We had some members turn a couple thousand dollars into 30 or 40 000 ive. Seen screenshots so im absolutely stoked that i was able to provide this opportunity to invest and its a really great feeling to be able to impact peoples lives positively and give back to a community thats. You know found value in what i have to talk about, so i appreciate all you and i want to congratulate everybody who partook in that, but enough of that lets get into what we can expect to see from cardano with the teasing of releasing smart contracts on The main net by september 12th, so pending cardanos software, upgrade to implement smart contracts. Weve seen a ton of investor interest. As soon as that, news was sort of presented itself, largely because theres a ton of space to grow with cardano in the d5 space with what they can do in their actual use case and then also because of the growing popularity of nfts and how cardanos technology Can benefit the nft space in general weve, seen the nft market post 2.5 billion dollar in sales so far this year, which is almost 20 times more than what we saw at 13.7 million over the same period last year. So its crazy to see the amount of growth were seeing, especially in the d5 and nft space, and because of that were seeing this huge growth in cardano right now, cardano hitting a hundred billion dollars in market cap just recently, which is absolutely nuts we started talking About cardano, when it was at 30 cents um, so its been an absolute hail mary.
As far as that, investment has gone, but, as we are hearing charles hoskinsons talking about successfully deploying the smart contract capability, theyve already been testing it and it is working, and this is allowing them to focus now towards the alonso upgrade on the main network, which is Still on track to be deployed on september 12th – and this is what investors are sort of waiting on and a lot of people are calling cardano the ethereum killer. I personally dont think that were going to see cardona wipe out ethereum its going to be probably similar to the way we see you know apple and microsoft competing you know, theres a lot of space and theres going to be different needs that different demographics are going To need catered to, and i think that theres space for both of these projects, to succeed simultaneously, however, taking some of the market share away from ethereum and putting it into a project thats developed by the co founder of ethereum, which, in my opinion, is going to Incentivize faster growth and development, because theres going to be friendly competition, which is going to be healthy for the industry overall, but something that we also have to take into account – and i know ive said this before – is oftentimes people are buying the rumor and selling the News, so the speculation on the progress that cardano is going to be able to make is oftentimes priced into the market by the time the event comes out and once investors realize the the event happened and nothings happening to the price theyre like wait, a minute weve Already seen this price action, which means that its likely a lot of hype and not a lot of substance to back it up immediately, you need to allow the infrastructure changes to actually be able to be used.
So you can start to evaluate how well thats actually going to perform and how much money thats going to create so be weary of when major news comes out and the market has already been adjusted to that price, because that is oftentimes a big reason. People lose money by the time you hear about the news. They wait a little bit get fomo eventually get in, and by that time the price is going to reset to what its actually worth based on the underlying value, rather than the over hype or the over push in price based on hype. So i want to look at real, quick. The chart were going to look at some technical analysis where we could see cardano moving, but i also want to talk about when we got this news about the smart contracts on the mainnet. So we got that news early august, so i marked our line here at august 10th. This is where i start. We really started to see it on the press and hear about it. This is also where we got the influx in volume in the breakout in this price action um from about a dollar sixty uh over three dollars an hour or sitting right around three dollars right now. So from my experience we usually see about half of the move made speculating some sort of news be given back once. The news is released, im not saying thats going to happen necessarily with cardano, but this is definitely something that we want to pay attention to as well.
So if we are to give half of this move back and we do top out at three dollars and we dont see any higher, we should expect to see sort of a recollection of the price down at this 230 range. But also you know, we could definitely retrace back and give it all back and start going back to that dollar. 75. Dollar 50 level as well. If we are to see a bigger move up before september 12th, you know we do have a few more a little bit more time. We could see you know a parabolic move. This could mean that now were in the third wave. So i want to draw out some of the wave structure here that im seeing if this is the first wave. This is down to two, and this is three: it would make sense for our three wave to go up a little bit higher before pulling down to the crest of one. So this is leading me to believe that, even if we are to see the price action pull back after we see the lacklusterness of the smart contracts actually being implemented right away, we could see a reset here and then a continuation up to that three level. Right here, so one interesting thing about this – that is looking really really good for us is the fact that the third wave on elliott waves – and this is basically the study of mass human psychology being represented in wave structures on trends, especially when its very emotional, in Which case this is extremely emotional: um were supposed to see.
The third wave have more of a parabolic move than any of the other waves, and we can see if this is our one wave right here. This third wave is been has been a lot more parabolic. The third wave cannot be the shortest wave. So if we are to see the the four to five later on in this wave structure, be anything like the first wave, then we should see this continue quite a bit further and it wouldnt be very shocking to me to see this level be hit right at The four dollar mark for the three wave right here this might be after we see a little bit of a reset after september 12th, but im thinking that this is probably roughly going to be the area we see the top of the third wave in the short Term future with which, if we draw our fibonacci projection, which is this orange tool right here, starting from the beginning of this trend up to the high of one back down, creating our one factor. Finding the one six one, eight multiple of this factor giving us the projection up to this – is giving us a value right at the four dollar mark, and you can see right here. Weve even seen the 61.8 level on this overall chart be the exact area where we broke out of resistance and then created this major move so im thinking that this level is relatively um is going to be relatively respected.
What we notice in our premium section when were taking trades, is we oftentimes see the top of the third wave hit the two six one eight projection when we do see a really, really parabolic strong move, in which case we could see this with cardano. So what im, anticipating as far as like a future wave structure for cardano, would probably look something like this. So we see another move, maybe a little bit of a correction here up to this level at about four dollars and then were gon na probably get a re test down the four wave. The low of the four wave is usually going to hit right around this crest, not always, but what ive noticed, especially on more major popular moves like this, its probably going to hit near the peak of one right here and then have a continuation. We could see a push in a continuation up to this level at about 6 6.41, which would give us a pretty substantial market cap. If we have 641, as the price, then wed see a 200 billion dollar market cap which, if we look over at ethereum their market cap right now, is about a little bit more than double that. So i dont think its necessarily out of the question to see cardano sitting right at that price sitting right at that 6. 25. 635 price, at the top of the structure before we even start to see a major reset.
This is under the assumption that cryptocurrencies stay strong and everything moves smoothly. We could hit you know, recession or something could not work with cardano, in which case we might not see this type of move, but its important to understand these psychological levels in the possibility. Now, if youre, not in cardano yet and youre, looking for some sort of entry point, you could use this understanding of technical analysis. The way we understood to get long on cardano right here in this overall trend at the 61.8 level. In order to maximize your entries on investments, and all of these concepts are how me and my premium crypto trading team are able to take cryptocurrency trades to generate regular profits if youre interested in these concepts and would be interested in trading. I will have that linked below and a card right here, but its really critical for investing and, if youre looking to actively trade, to understand this technical analysis and how to use risk management. But this is sort of the beginning of understanding that and understanding how mass human psychology works. Okay, you know it looks a little crazy to see it up at this 261.8 level, but once again having a 200 billion dollar market cap. If we do see defy continue to explode and cardano starts more heavily competing with ethereum, which i think is probably pretty true, you know this is a very realistic price goal, which is our which is going to be another 100.
On top of that, one more factor to consider is it if you do wait for a pullback, which is definitely a risk, because you may not see a pullback before you see a massive explosion to the upside lets say we were to get in at this point. Currently – and we go up to that projection that were talking about thats 116 percent return, not terrible. However, if we are to think about timing, our position more and waiting for those technical levels, the way were able to if we could get it a little bit lower sort of around this peak of one level were almost increasing it to 200 return. Just by timing, the market by this much youre exponentially increasing the amount of money youre making later on, which is why its so important to be able to time the markets time youre, investing and also use these strategies to be able to take regular crypto trades. In order to make money, even when the markets moving down sideways or whatever, so my advice is to be cautious and understand that the price action already might be priced into the market, but also understanding the true potential of what cardano could do. You know people think that its overvalued just because its gained a lot, but its gained a lot for good reasons and just because weve seen a fifteen hundred percent return in the past year, doesnt mean that were not going to continue to see this grow into.
Maybe a trillion dollar market cap within the next five years, which would be right around a 30 cardano, which obviously would be a 10x from here and its a very safe investment, not saying that this is going to happen. But we do have really really serious growth potential in these projects, so i figured it would be worthwhile sort of talking about this talking about the news around it and then talking about this price action as well. To sort of give you an expectation of where i think were going to see cardano moving into the next little bit and you can see ill put sort of like a time frame in which this is like logical. For this to happen. Based on like the wave structure – and i would say by may of 2022 this if its going to happen, is probably going to have come to fruition, but anyways guys thats. Basically, all i have one more thing. I started a telegram group where im putting out some of the trades im taking on the premium side, with an entry, a stop loss and a profit target. So if youre looking to get your toes wet a little bit on the trading side and see what were all about and get some market updates, i will link the telegram group below as well, if youre interested, if youre still here with me, make sure you hit The like button on this video, also, if you havent, subscribed to the channel yet make sure you hit the subscribe button, turn all bell notifications on okay.
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