Welcome back to the channel today were going to be breaking down cardano. We got some really big, cardano ada news and were going to be examining the whole thing in todays video. We have been seeing a lot of bad press surrounding cardano a lot of influencers coming out talking about cardano im selling, even though they were pumping it just a couple of weeks ago. I did a video about a month month and a half ago talking about why cardano was my biggest crypto holding, and i still feel the same today about cardano, as i did back then were going to be looking at all the news were going to be looking At the run, the chart were going to be analyzing all things cardano in todays video theres, some big breaking news surrounding cardano and were going to be analyzing all that so youre going to want to stay tuned for this one i had the cardano chart pulled up On the screen, even the charting package that im using right now is saying that cardanos a cell down here at the bottom of the screen on trading view, the technicals are saying it to sell right. So it must be a sell. Everybody on youtube. Instagram twitter is saying that theyre selling out of cardano. That makes me even more confident in my position. It even makes me want to buy more when you have these idiots. These talking heads on social platforms, saying that theyre selling out of cardano its a waste of your time, theres, better cryptocurrency investments out there.

You have these charting packages, saying oh, the technicals are saying sell that makes me want to buy because its all bs, nothing has changed to a negative standpoint and all we are seeing are good. Things come out of the cardano team. The cardano development community is growing and its getting better every single day, and i dont know what the hell this trading view. Technical analysis thing is, but the chart is setting up for a massive move higher and we have catalysts that are coming into play. That could send this thing running higher as well. What is really spurred people being down on cardano is not anything that cardanos done wrong or anything that cardanos lacking from a development standpoint, its really that we have seen other cryptocurrencies kind of blast off and leave cardano behind solano solana. Being one solana has seen a massive move, it is another ethereum competitor cardano, on the ada side of things is an ethereum competitor, its a faster transaction speed, and it also has the smart contract features of ethereum, but you get that faster, different um proof of work Versus proof of stake, all that stuff were not really going to go in in depth into that its just faster, and it has pretty much all the intangibles of ethereum a little bit faster and the smart contract features are a little bit better. In my opinion, but solana is a beast as well. I have nothing against solana, i actually own some solana, but i still think cardano is a beast and its an up and coming beast and when we see these sharp crypto traders saying that theyre selling out of cardano, that is just bs, its smoke, its fud and It makes me want to buy more cardano, so if we look at the cardano chart right now were trading at a dollar.

Ninety seven well do a little bit more technical analysis later on in the video talking about where im looking to buy and where i think this thing is headed a price prediction. But if we look at the chart, we have been chopping around over the last couple of weeks, theres no way around it when shiba inu was going to the moon when solano was putting in this massive run, cardano hit highs up near three and his scents kind Of cooled off a little bit and theres absolutely nothing wrong with some consolidation. Consolidation and pullbacks are a really good thing for investors who have that longer term outlook, because it gives us the opportunity to buy in on that pullback and look for the rocket ship. The breakout and the upside potential we know cardano has that upside potential were just waiting for a catalyst to start propelling it higher. If you compare the cardano chart to the solana chart or the sol is the ticker chart, you can see that solana has really done. The exact opposite of cardano when cardano was blasting off solano kind of chopped around and sold off, but when cardano was consolidating solana broke out and made new all time highs. Why is this happening? Well number one! It has a lot of eyeballs on it because the ethereum gas prices have gone to the moon. These transaction fees have gotten a little bit out of control on the ethereum side of things, theyre working on getting those fees back down to a normal place, but solana right now is cheaper.

Also, theyve been doing a ton of nft volume on the solana exchange. Its been doing a ton of volume, i think it may be the second or third biggest nft exchange right now, and we all know that the nft volume keeps climbing getting higher and higher, so theyre doing work in the nft streets and its got a lot of Eyeballs on solana once again, nothing that cardano did wrong. Then you had shiba inu in a lot of the squares right. A lot of the newer, dumb, dumb money have limited funds to invest in cryptocurrency, so theyre looking for the newest and best investment in trying to get rich just off of a hail mary right, theyre, looking to throw a dart and hit that bullseye on the first. Try so when they hear all these people talking about shiba inu, you guys know i like shiba inu. I think the devs did a really good job and i still think it has potential to go higher. But thats, not the point right. You can own multiple cryptocurrencies. You dont have to put all of your eggs in one basket, but i think thats what a lot of newer crypto traders are doing, theyre, throwing all of their money into one crypto looking to score big. So you have shiba new mania hit. Maybe im not positive. On this that they took a lot of their cardano investment out and invested that back in to shiba inu, which could have caused a little bit of a contraction in the cardano price.

Once again, nothing cardano did wrong its just the way the market cycles work right. You have a move up, you just cant go straight to the moon, you got ta, have a pullback, a consolidation, and then you get the next leg higher. We had the cardano 2021 summit and it brought about new features that are going to aid in developing the networks. Future use such as developing a native cardano, stable coin, called jed and using chain link to supplement price feeds and help grow defy on cardano. There are a lot of defy exchanges or dexes out there with most big cryptocurrencies. They have a d5 exchange. However, cardano still doesnt have one what happens when a d5 exchange is put into place. It locks up a lot of the liquidity right in order to have an exchange. You got to have liquidity so when a defy exchange is created, theres going to be liquidity providers that stake their cryptocurrency to the exchange and in return for doing so, they get a little bit of a kickback for providing that liquidity. So youre having a big, a big percentage of the outstanding tokens locked up because theyre providing liquidity. So if all of a sudden, you have a few billion dollars worth of a token just locked up, so that supply diminishes what happens if the demand stays the same or a catalyst comes out, but that supply is locked up. It is much easier for a big move to be put in place.

Thats. What were starting to see here with cardano we have seen raven decks come out, could be a d5 exchange with cardano im, not pro promoting raven decks. I dont know too much about it and ive also heard rumblings in them screets that cardano is going to have a legit, dex or decentralized exchange here coming out shortly, and that is absolutely massive news for cardano. It is solidifying it as one of the front runners in the future crypto race. I still believe in cardano full heartedly, and i think it is probably going to stay a top five cryptocurrency from a market cap standpoint for years and years to come, im going to grow with cardano keep adding money if we continue to drop im going to keep Buying and if we rocket ship to the moon, like, i think we might im going to be strapped in seat belt, on ready for the ride higher. All right. So lets look at the chart and ill talk about where i think some good buy zones are and where this thing could be headed alright. So we have support here at the 180 area tons of support at the 180 area. We also have a resistance area up here in the 245 area, so i wouldnt be surprised to see some consolidation, some chopping around in that area there that zone, what im going to be looking to buy and see if we hold this area, we start to round Back out, thats my buy indicator also worst case scenario.

We sell off we break through the 1.80 area. We have tons and tons and tons of support down here in the 1.50 area dollar 50 area. Look at all that volume and support traded in that area. That is my all green lights load: the boat load. This ship were loading up on cardano area. If we can get down towards that dollar fifty i am absolutely loading the boat, then what we look for is for to round back out hold support and make new all time highs a dollar fifty to new. All time highs is more than a hundred percent. It doesnt look like that big of a move, but that is a 2x or 100 move from a dollar fifty to three dollars, and i think this thing has five six, even seven dollar potential. In the next six seven months, it has been lagging behind solana, its been lagging behind ethereum and eventually it is my belief that it will catch up to those because markets work in cycles, doesnt matter, whether if its the stock market or cryptocurrencies, it works in cycles. You have moves higher, you have pullbacks its normal, so if youre cardano holder like i am i wouldnt, be too concerned, things are still moving in the right direction. We just had the announcement. The vote came in for fun, six, which is awesome to see that a project of this size still is getting input on what they should be working on.

So the governments protocols cardano has in place, are voted on. It is project catalyst which was launched in september of 2020 for the purpose of providing public funding for projects building on cardano. That is what is going to make this project work or not work its not the internal development, its the external development, these smart, wicked, smart hackers and coders who build on the car dyno network, these dfi exchanges or these smart contracts that theyre working on that is Whats going to send cardano to the next level, so you had tango. Crypto was one of the top three proposals that was approved, which is software as a service for cardano, which intends to address the problem of time consuming and costly development tasks by building a scalable software infrastructure, consisting of sdks and apis to increase the efficiency of building. On top of cardano, this is all above me, guys im not smart enough to really understand whats going on here, but we know that theyre being very transparent about these protocols that were voted on its good to see, and we do understand that in order for cardano To overtake the cryptocurrencies ahead of it from a market cap standpoint were gon na need these developers and builders to come in and build on that ada network, and that is exactly whats happening all right, so i do think theres still a ton of upside for cardano. I am not worried in the slightest in any pullback towards those support areas that we mentioned earlier im going to be a buyer im gon na be buying the dip and selling that rip.

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