Cardano Price Struggles To Breakout As ADA Tests Big Resistance
Since then, ada holders on standby as ada consolidates Music. What is up, everyone welcome to crypto capital adventure, hit the subscribe and like on the way in lets jump into the video here. Are the charts were going to look at it? What im, anticipating what im looking for before we do? I have some really really really important: crypto capital venture updates house cleaning, whatever you want to call it. If you want to skip to the to the charts, there will be timestamps below, but this is important stuff i would say, especially if youre a delegator with one of our pools here is pooltool.io. Weve got four pools. As you know, everybody we launched, i think in march the first one. Thank you so much first off for just growing with this. This was all so new to me when, when i did, this were all learning and its been a really cool experience. Its been a really cool journey. I want to thank you but lets lets start here with the first thing. I want to talk about five percent fee for our stake, pools and ive gotten asked a lot. Why are your fees higher than other pools, and i basically just said, listen crypto capital venture is a business. This is a revenue arm of crypto capital venture and i work so hard to create content for the community and if you want to support that, i really really appreciate it um, but ultimately that thats essentially why i had a little bit higher of a fee.
At five percent, but its been around one month now, its obviously no no secret ive been posting a lot less content, a lot less and im going to continue posting less its been a huge blessing as ive just kind of – and i mentioned before, i was extremely Overextended in crypto and youtube and everything going on in life, and i had to take a step back and it has been a blessing and im going to continue posting content. I want to let you know that, but im going to be im going to be posting less, and so because of that its you know, it goes without question. I need to lower these fees, so were gon na be lowering these to three percent from five percent that theyre at now, and that should go into effect. Epic 296, i believe so five percent to three percent and thats. The first thing i want to talk about and by the way this is pooltool.io if you want to get stats on all the pools, not even just cryptocapital venture pools, but just you know, blocks and everything going on with active stake and rewards and all this stuff, All the stats in cardano state pools go to pooltool.io its a really good one. Uh great interface, awesome mobile, app theyre, not sponsoring this. I just i just like their i like their their site and their apps uh and then the other thing i want to throw out there im going to put a link to this.
This is from cardano.org one of the documents, the monetary policy document when were looking at things like rewards. This goes. This goes into monetary policy, it seems that rewards have been declining, and this explains how the mechanism works. Uh, you know and its based off of reserves – and this goes into that – and i want to put a link in the description for you to check that. But in regards to all the stats, they fluctuate pool tool and the data on there is very helpful in tracking all that every epic so thats, the first thats the first thing. The second thing, also in regards to the stake pools, is this so weve mentioned just how sarah and i want to as we grow crypto capital venture, not just the stake pools, but just in general, the recruiting firm, the youtube the stake pools we want to. We want to do awesome things with with our growth and we finally and youve probably heard us talk about place of hope before you youve heard us talk about wq and t. We finally were able to visit place of hope we traveled around one month ago, and we visited a place of hope and everyone. I im not going to go into too much detail. I dont want this to be too long, but were on were on this golf cart, just getting a tour of one of their facilities and by the way place of hope.
Just to give you info is a faith based state licensed organization focused on providing programs and services to end the cycles of abuse, neglect, homelessness and human trafficking. We offer support to children, youth and families in need were on. This golf cart, getting a tour of one of their facilities, and we went into this beautiful one of the beautiful homes they have where theyre you know. Raising up these kids, we saw an education type of center, just beautiful facility, a brand new gym, and they have other facilities and theyre just doing amazing things so 340, plus children and youth being cared for daily, so its in their facilities, but its also just in Foster homes uh that are that are also you know, taking part in this, but we were there and were getting the tour and im just like this is very. This is very personal, but this is just me where im at right now and since ive been just non, stop posting content. I want to share this with you. My heart has just been like man. There is a world out there. There is a world out there that needs that needs gods, love that needs attention, and you know ive ive had this like conviction of just man you need to you need to. You need to step away a little bit right. The charts that we see here, theyre theyre great right – we watch them, but its just like non stop all day.
Every day, twitter youtube content. This is just where i am im, just speaking completely up front with you right now, um and im gon na continue posting content, but its just this theres a priority shift going on in my personal life right now and its stuff, its its stuff like this. This is the stuff i want to do with my life and um long story short were going to be also taking from you know now: moving forward 50 of profits from our stake pools. So if youre, a delegator 50 of the profits will be going towards things like this, that you see on the screen place of hope, we qnt. We want to continue to support um what uh, what whatever else god brings into our path that we can start helping and and and serving as we grow. So i want to throw that out there. So those are the two main announcements that i wanted to just kind of discuss now: lets kind of try and pivot here to cardano on the charts. This is it the first thing. My last video i wasnt very bearish, but i wasnt, like you, know, all time. High soon right, im never like that really, but and by the way im, not a financial advisor everybody. If, if you need a financial advisor, find one im, just you you all know it. I say it all. The time im just sharing the data and my last video it wasnt bearish, but i saw a comment somebodys like man im like sad after i saw that or depressed after i saw your video, but i have to really just what i see on the screen is Very simple, its lower highs and were in a descending triangle that formulated were in this consolidation phase and we have to be prepared, at least i do.
I have to mentally be prepared for like every scenario, so i want to talk about this this. This story thats played out on the screen because it plays into the macro story that weve talked about so right. Now we have a new weekly candle. Currently read. You can see it right there, its just over an hour old and its been this story, and i dont mean to keep repeating myself but alonzo hard fork, mary hard fork, shelley hard fork, so shelly consolidation to the 20 week moving average mary consolidation to the 20 Week moving average and its no surprise alonso consolidation to the 20 week moving average now. The the thing i wanted to talk about real quick on the weekly chart is what i see here is: is theres a lot going on, but its a glimpse of patience, because if you look at post shelly hard fork, this is a weekly chart. Thats thats like a lot of patience, especially considering this dip and then just testing the 20 week moving average for weeks and then again, post merry heart for weeks and weeks and weeks, all time high for a second and then boom all the way back down to Outdoor dollar patience we we went through it, we tracked it i mean was i i was i doing as many was i doing videos back here. I cant remember exactly, but we tracked all of this and now here we are and maybe its a smaller scale.
Maybe its a smaller time frame, but we have to be patient at and i say we i have to be patient and so when im trying to anticipate what patience looks like, i start digging into the charts. So we go to the daily chart and i look at the daily chart and i say: okay, we had the 20 day moving average crossed below the 50 day moving average and by the way, the 20 day move or the 50 day moving average. The blue line very important. Around 2.46 now we had a very similar move coming off of the last all time, high right 20 day, moving average crossing below the 50 day moving average in that move, you can see cordano kind of like danced with the 20 day, got above it failed at The 50 day and then boom right back down to this general vicinity. Right, look at that here we are again kind of on a smaller scale, 20 day, moving average crossing below the 50 day lower highs. Again it seems like a descending triangle and so cardano. You know dancing with this 20 day moving average 50 day. Will it be tested again, 2.46 area? Maybe if we pair that data up with the rsi, the momentum oscillator, you see even more similarities in terms of what that 20 day, moving average cross below the 50 day led to right here on the rsi, with a final boom to that dollar area.
As you remember – and this was the balance off of the 50 day – rejection 50 day – moving average rejection to the dollar area, so right here boom. So here we are again potentially maybe going to test the 50 day moving average, and this is where we start looking confirmations its a really good confirmation data point. If cardano breaks above the 50 day moving average, then we start looking for bullish confirmations. That is kind of a bullish confirmation, but if it fails, we have potentially a similar story that happened right here going into another low. So could look something like this: will it even get to the 50 day moving hours before that happens? Maybe not, maybe maybe were in a just new downtrend from here on the rsi, so beyond the bullish confirmation for the 50 day moving average to get there, we start looking at whats happening on the six hour, so a shorter term bullish confirmation would look like this And theres the 50 day moving average by the way on the six hour chart around 2.46 cents. So we have wheres my fibonacci, no surprise a fibonacci from the last swing high to this swing low. Here, a fibonacci resistance hit perfectly confluent with the upper trend line of the descending triangle, a 618 around 228 to the 786 around 236, its another lower high and its been a story of lower high since the all time, high, the beginning of september and its just Crazy to see that its crazy to see how often these fibonaccis play out because ive just been talking about them non stop and i get i sometimes get a lot of hate about it, like you say, fibonacci too much.
But this is why? Because its not until we break these lower high areas or on the flip side, high or low areas until were getting these, these short term confirmations, and so we got no short term confirmation as cardano failed at that fibonacci confluent with the upper trend line – and you See it there so again not trying to sound bearish in this video, however, cardano theres room to the downside, theres room for rejection and its something i want to anticipate from this last swing low to that swing. High rejection, we have a support area potentially right in the 2.13 area, to like 207. That would be that that first area of support, potentially maybe cardano, comes down. And then maybe we finally get a breakout that we want to see out of the upper trend line of the triangle. But we have to be careful all the way down to the lower trend line all the way down into like the dollar. Ninety to the two dollar vicinity uh of this descending triangle, because it goes without question that there is there is a hundred percent potential. Well, theres 100 potential for any scenario to happen. Lets just lets. Put that away and someones going to quote me on that, because that thats, like that kind of thats, really confusing to say cardano, can do anything. But the target to the downside is like all the way down to the dollar. 30S dollar 40 area and if were looking, were going back to that weekly chart where we kind of started and we saw cardano break below the 20 week as it kind of consolidated post post at last, hard fork, post, mary hartfork, shelley mary.
Whatever we dip below the 20 week and so a dip below the 20 week here could bring us to this area, it could be really big consolidation for cordano and its just something i want to be prepared for. Will we track a breakout to the upside? Absolutely cardanos closer to an upside breakout than it is to a downside, breakout, but were getting this initial rejection right now. I want to be careful. I dont want to just just talk crazy bullish in this video talking about. Where were at resistance, we can break to the upside, because right now, cardanos around 10 from the 50 day moving average, and you can just see thats what it looks like right around there thats resistance all the way up through there we have and speaking of resistance, The upper trend line resistance, this fibonacci short term resistance, lower high resistance, and then this is a six hour chart, but the 50 day moving average around 246. A lot of resistance for cordon to break support once again, 213 down to 208 207 will cardano hold. If we dip in that area for a potential bounce off of high or low support boom to the breakout break out to the upside, or are we going to be testing this lower trend line of the descending triangle? Thats? What im watching on the cardinal charts this video right at 15 minutes thats, not that bad, so everybody! I appreciate you hit the subscribe hit.
The like! Thank you so much for cruising by lets, see what cardano does have an awesome night or day.