WHAT’S NEXT FOR ADA PRICE AFTER BIGGEST DAY IN HISTORY? Cardano Crypto Smart Contracts Launch
Well, today is the day: cardano has launched its smart contracts and yes, blockchains matter so were going to look at cadano and what is next for the blockchain, especially after there being no dapps launched on ada at this point in time, but not to fear were going To check out the charts and have a look at that price action, the most important part for everyone holding their ada the price action so before we dive into the video make sure youve hit that, like button down below here, bell notification icon after youve hit the Subscribe button, you can always unsubscribe later, if you find no value from the content check it out, hit those links ill and follow me on instagram and on twitter for daily crypto updates. All right lets dive in to the video now a big piece of what we do here on the channel is staking ada. So if youre looking for a staking pool check out the investor accelerator staking pool, you can use something like euro wallet. Ive got all the links to the staking pool down below giving you an easy guide on how to set it up so its to get your passive income on your ada. And, of course, you can continue watching the content for free, as everyone else does, to get your cardano updates, especially on the prices thats, where my main focus is after trading and investing for over 10 years now. Also the investor accelerator.
The early adopters is getting close to selling out well were halfway now, but its going by about five to ten places per day. So if youre interested in it sign up early in the month get the whole month, and today we have recorded our weekly market update. So if you jump on board today, youll see that come out in the next few hours as well so check it out. Links are down below for the investor accelerator, to learn more about trading and investing so the investor. Well, the input output tweet here is on the alonzo upgrade. We want to know what happens next, what is going on pricing and all that sort of stuff? Is it a buy? The rumors sell the news type of event well check that out at the specific point. In time on the charts as well, one out of two upgrade successful, so these are the tweets. From iohk moments ago, we deployed the alonzo upgrade at the epic rollover. Some people like to call it epoc. Some people call it epic all right lets, call it an epoch to keep the haters satisfied. Welcome to the start of a new era for cardano ada, all right, weve got all the good news here. Weve got the the blogs still early days. Everything is going quite well whats going on over here. This is the blog from input output, pluto, smart contract capabilities on to the cadano mainnet via hfc. So if you see that hard fork, combinator protocol upgrade event so thats whats going on its remarkable, it is a remarkable staking ecosystem that continues to grow rapidly.
I definitely see that i love the staking ecosystem after using many other staking decentralized, staking services from things like icon and other projects out there. Eos cardano is, by far the easiest one ive been able to use, and i think that definitely helps the new investor coming into the space to be able to earn passive income from their ada. And i dont just mention it because we have a staking pool here. But ive used eos, it was terrible to use ive used, icon icon was very nice to use, but it just took extra clicks and it had a lot of lock up periods. Cardano is almost seamless its beautiful. According to the statistics from kaddo data aggregation tool pool tool, the number of ada staking wallets today stands at 825 755. This represents an increase of 35 percent plus since june. At the time of writing, the total ada delegated to stake pools is valued at nearly 60 billion dollars, so that accounts for about 71 percent of the total ada supply. So this is all great news and of course, this doesnt come with any criticisms. Could i know to launch smart contracts today, but where are the daps? I think this will progress over time and as weve seen with everything on cardano, it is slow things work slowly there because theyre always getting stuff peer, reviewed, whatever you think of that. I dont think its that great of a thing, but it seems to be working for them and i have belief and understanding of the project long term thats.
What im looking for when im investing? I dont have to agree with everything that charles does a hundred percent and thats their difference compared to ethereum or solana. So there is a lot of good here. Yes, there are no daps and there are still going to be haters out there on on that piece of the puzzle to get dapps onto the ecosystem. But i think, as long as youre aware of these as an investor and you look at the bigger picture again, if youre an investor because youre using the staking services – maybe you are just wanting to hold it long term, then youll understand that this is short term Problems for the ecosystem and maybe its not even a problem, because again, this is just what happens on smart contracts and especially if you were going through a full peer, reviewed system so longer term sure short term, maybe its a different story. Looking here, what is coming? Next, so canada officially rolls out smart contracts whats next, according to charles, with smart contract functionality now live on. Cardanos mainnet hoskinson is looking ahead to whats next for the ecosystem, including the debut of plutos application backend, which offers a suite of components that will allow both technical and non technical users to build on the network so thats a day, and you know what happens there – Has to be a morning after i should read this in childs voice shouldnt, i septem september 13th monday well wake up its business as usual.
Lots of things will happen. The network will probably be under a lot more load because people play around with things and test things, thats, fine, all right, so thats what happens on in technology. The next thing thats up, though, which could spell a little bit of you, know momentum for the the price, maybe the cadance summit, but were going to have to look at what the trend is doing at the time. Just because a summit is coming up, it doesnt mean that this is the thing to launch the ada price into new all time. High territory weve got to follow the trend on the chart and if people are selling and the trend is down, then that is the way the price action is going to go. Speaking of other things that are beginning to be built on cardano nfts, cadano non fungible tokens, so you can check out this website cnft.io. We looked at this previously on the channel, not in a hell of a lot of detail, but you can see the nfts are for sale on the ecosystem. Now, if you remember from yesterdays video, i was also looking at other projects which are launching on cardano or have associated themselves with the cadano brand. And of course, there are going to be a lot of companies and projects out there that are just trying to create money, grabs and easy ways to make money. Because the the branding and the name of cardano is so hot.
And i think the same will go for the nfts. I mean weve, seen it through ethereum weve, seen it through solana. It shouldnt be new to anyone now. So not all of these things are going to be great im. Pretty sure you guys get that, but just pay attention to that is one day they could be fantastic and the next day it could be nothing so keep on top of it. The same goes for those projects, things that are trying to be the new chain link of cadano, the new decks of cardano, the new insert something here of cardano thats my view on the ecosystems and how they get built out. I definitely want to look at the charts and thats what i have next, so i want to see higher lows: weve got some alerts going off and higher highs, so this is the hour bar that the launch happened. So this was the hard fork. This is at 9 00 pm utc, so it happened around 9 45, so were going to look at the hourly bar and ive, got it on utc down here so thats what we should be looking at – and that was the exact time that we had the hard The hard fork the market ran up for a little bit, barely anything if we went from the bottom of that hour to the top and the next five percent. If we take it from the close of the previous bar to the top around two percent or even the close of um, the the peak and then we started to fall back, its only been its been about a percent.
But not much has actually happened since the the hard fork. What has actually happened is the market is falling and its beginning to break down from support zones. Now, before you get a little bit scared and start selling off. Absolutely everything just keep in mind that this is a short term. Time frame were on an hourly chart here, as well were looking at the hourly chart, because i wanted to figure out exactly when the news well and when exactly the event happened, and nothing really happened. On the event, the market was in a downtrend overall, you can see here that we just downtrend, and the next levels which we need to see holds are around 220 to 230. In order for us to maintain some sort of strength in the market and ive got 220 to 230, because if we drop it back onto a daily chart, youll see where the highs and the lows come in and that 220 to 230 level is the previous swing. Top so that came in at 228, so im giving a little bit of leeway, especially for any sort of wicks. That would happen if you were using candles, or you know that just the the low of the bar. So if we throw it on candles, you can see the massive wicks that have had formed here and trying to hold up so weve got some big wicks to the upside as well from the last couple of days and theyre just hitting out underneath the previous support Level so on a subtle look at the market here this is what were seeing.
You can see the wicks hit some resistance and now dropping back down. So the idea here is: we want to see some support hold at around 220 230.. Overall, if i had to take a stab at it from what im going to be the way im going to be playing, the market is im looking for lower prices at the moment now, i think if we start to break down through these closes, and these opens, Which is the body of the candle, then we will see probably lower prices tested, so we need to come back and test that sort of 220 to 225 230 area, so its not anything huge if youre just holding it staking it not worrying about it. You know thats, probably only ten percent in it, not that big of a deal should we see further downside and these lows tested, because the market is trying to consolidate. Then weve got lows at around the two dollar mark, so that dollar, ninety five that could bring us back about twenty percent or so long term ill, have to wait and see how the market is responding. After this launch and again theyre my areas there, the next target areas would be at these previous highs, so thats around that dollar 80 through to about two dollars so theyre my two levels that im watching, of course, the major 50 percent. The major 50 comes in. Just uh in between those two around that 210, so you can see 207 here 208, so thats right in the middle.
So i think, if we break down then were on the weaker side. This would be a nice area for consolidation. Even back to these highs. A long way from that from those levels at this point so im not too concerned at the moment, but ideally this would be the solid base here at 220 to 230, ideally thats, where id want to see it. Looking at ada btc same sort of deal. This was the bar, so were on an hourly chart again. This was the hour that the smart contracts will launch and since that point on the btc chart, ada btc has fallen so every hour after that has been down down down. We look for support and resistance levels, same sort of deal this grouping here, this area that the market was turning around thats, where i would want to see it hold up again, and that is around the 5000 to about 5400 level, so were not far off that At the moment i would be putting if you were following this yourself. I would definitely be putting in some alerts just to see how the market reacts when it gets to that 5000 level and so ill just drop it in here hit alert, done, drop it back to a daily chart. Thats, getting us not too far from the previous highs, so were at our major 50 percent, 4, 600. So anywhere from that 46 to 5 000 level. Its still probably a good area at the moment, but im going to keep tracking it day by day and theres.
No guarantees that were going to get that far down and especially after weve, come up like a good bounce. Then this is definitely my my area that im watching around that 5000 level, because a swing low has been put in there and the market is on its way down quite quickly now so im going to wrap this up in a second get this video out to You guys so you can watch it and keep a track of these price points on the markets. Finally, if you want to watch something after this video check out my other videos or my brothers channel michael posino hes been doing some great things with ta. He follows again: wyckoff and elliott wave in detail. Dont worry about this. This is probably the next cycle, but this is a really good video to check out if you want to understand some time frames and some cycles for this current cycle of cardano and price targets that hes also looking at so ill leave. Michaels link down below in the description of this video check it out down there dont forget to check out the investor accelerator while youre down there as well. These are going by about five to ten per day, so i assume – maybe in about a weeks time or so. This will be all gone and then were up to this next round of investor accelerator, so check it out, links down below and, of course, if you want to get some passive income on your ada check out the link all down below to stake your ada for Passive income using the investor accelerator staking pool links are down there tutorials on how to do it all ill wrap it up.
There ill see you guys at the next video like share, subscribe, all the stuff down below and instagram and and on twitter for daily crypto updates catch you in the next one until then have more fun to get more done.