Cardano Price DOWN But ADA is NOT Out…HERE Is Why!
Thank you for doing so. Your support means a lot to music bro, the youtube channel cant. Do it without you. I really cant theres ada on the charts going to dig into it. Gon na talk about kind of a decisive moment for cardano on all these charts and how they all come together, and it starts on the weekly over here on the weekly something weve been talking about, want to dig into that whats going on there before. I do. Everybody i dont know if you voted for the sunday swap iso spo, but this is unofficial. As of right now, uh ccv looks like we looks like we got fifth fifth place: 63 over 63 million ada voted. So i just want to say thank you. It is unofficial, i cant like officially say that that were in but uh this is pool.pm, they provide awesome tools, and this is one of them, so hopefully, hopefully its on point and we got fifth and at 63 million ada. You all are awesome and i really appreciate it so, a little pound there um could be really cool to to be able to be a stake, pool operator for sunday swap and their iso. Their initial stake, pool, offering uh and also, i guess in the running – for being a scooper. That would be awesome, so thats that wanted to say thank you were sitting here around. You know 2.6 trillion dollar market cap cardanos sitting around 62 billion right and lets talk about something.
I just want a very quick, quick reminder. There is a lot of upside for cardano. I know its a top 10 coin theres a lot of upside for cordano ethereum, sitting at 496 billion over a trillion for bitcoin, and then you have data like this most active chains last 24 hours. This was yesterday a tweet from cordano daily. Look at that most active chains. Second, behind bitcoin – and i saw some comments like oh thats, just because you know theres so much going going on on the blockchain like things like the sunday swap voting right and look at the amount of votes. Are you serious? 1.6. 1.6 billion thats, crazy, 1.6 billion eight have voted and then im kind of like yeah. It is because stuff like that is happening. Thats called usage, thats called activity, hence second at most active its. What a blockchain is designed for its what thats, what its for and how cool that sunday swap, is utilizing this as a mechanism. The stake pools to do this so yeah. It is exactly what blockchain is designed for its for innovations, its for ideas, its for things, like voting so really cool to see. I i mentioned that, because thats how bullish cardano is. This is just the beginning. This really is just beginning, in my view and thats. Why im just very long on cardano going over here to the weekly, so a couple things i i said its decisive, it really kind of is decisive.
In my view. We talked about we talked about yesterday. We have this stock rsi down here, right oversold, getting ready for this. This important move back to the upside similar to how we had in that last bullish, move right and that was post uh actually right here, i should say this was in july post mary hard fork after consolidation, but we had a similar move right here back in November uh 2020 post shelly hard fork been waiting for potentially something similar and the setup is there. Lets lets get that out there, but this entire consolidation post alonso hard fork similar to post mary hard fork, similar to shelly hard fork. Gon na keep referencing those data points its huge for me, uh its its just on my mind when im doing technical analysis. If we start zooming in here, i want to show you why its very kind of a decisive, its a decisive area for cardano, so lets dig into it real quick. I trust capital. Thank you for sponsoring this video theyre, a sponsor of ours cardano on here, but everybody i want to say something and youll probably hear me talk more about this, which is a crypto ira right, where you can trade tax free youll, probably hear me talk, naturally, more About this in, like a bear market environment, because i think its such a huge play in terms of accumulation in terms of leveraging bitcoin in a bear market and being able to do that, tax free right in a very in a very good way.
Um so buy. And sell crypto, 24 7 click, the link below click click, the crypto capital venture link below enter your email get in the process. Once you fund your account theyre giving away a hundred dollars in bitcoin, and they just they just announced this theres. No longer any monthly fees to have an account with them, so just such so on point, the team is awesome, the team is growing, they really are. I mean it says i trust capital, the worlds largest crypto ira platform, with over 3.5 billion in transactions. If youre a long time, long term thinker, which i am, which is exactly why i like having them on as a sponsor, you know, we dont – have a ton of sponsors, everybody um! I like talking about them because i like their product, i use their product. So thats, i trust capital click the link below in the description. Thank you. I trust for uh for being awesome. Heres the daily chart the critical critical moment for cordano. This is what i want to talk about, because weve weve touched on it before, but like were actually here were here, which is weve talked about the the pulling in right on the weekly. We just looked at it pulling in of the consolidation to the 20 week. Moving average that green line, but what that looks like on the daily is is illustrated by this pulling into the 200 day moving average, and this is something that happened: post, uh, mary hartford back here, just kind of hitting the 200 moving average with the bounce to The 50 day moving average and then boom testing the 200 again, actually closing a couple candles below the 200 moving average.
So, post posts alonso hard fork right here, got pulled into the 200 bounces to the 50 and above slightly and then boom pulled back down to the 200.. Just look at the look at the synergy in that move. Its just boom boom right and then we have up, we have boom boom and then you at the same time you have all these oscillators. Looking so similar on the weekly on the daily chart, so heres the daily chart, you can see the oscillator very, very much cooled down here on the rsi, the slower moving momentum, oscillator comparative to this 200 day. Moving average move back here in july and then the other thing is in this move right here to the 200. What am i doing to the 200 day? Moving average, we had the stock rsi coming down into oversold, and here we are stock, rsi coming down to oversold whats, the next move for cardano and the reason its so critical is. Not only did it happen here and were in this uptrend, and we want to see it continue, continuation of the uptrend, but if we zoom all the way out on this daily chart, look at the 200 day moving average all the way back here, post shelly, hard Fork how to bring it in, because when we look at the weekly chart, what are we doing were looking at the similarities of that consolidation to the 200 or to the 20 week moving average on the weekly and at this time, when it was doing that, we Have cardano hitting the 200 moving average once twice before continuation, so if we zoom all the way out now now we have basically this story being told by the 200 moving average and its just a story of support and continuation for cardano and each time it was At this area, boom boom were there now and what were looking for – and this is all technical analysis – is everybody.
I cant tell you exactly whats going to happen next, but what i can say is this were getting historical data and were taking it to allow us to have some type of road map. Some type of confirmation right things to look out for in the current charts. From based on that historical data that says, hey heres what you need to prepare for heres, what could happen next and are you ready for that? Thats all were doing here. Everybody im not here as a youtuber im, not one of those youtubers are going to tell you whats going to happen next, because i i can sit here and i can tell you – i dont know im – probably in the boat of 95 of you, what i want To see happen, next is very clear: bullish, ridiculously fun continuation off of the 200 moving average, but whos to say if thats going to hold support right, whos whos to say whats going to happen overnight, while were sleeping whos to say, whats going to happen. News coming out of china or something or some something crazy happening globally. I dont know whats going to happen next, but i know im prepared and when we start talking about preparation, because we have we have this the synergy of all the historical data we have it in front of us. We see where we are. We do realize that its a critical, decisive point for cardano, but then we start digging into it.
We start looking for our confirmations and this is im not going to show a clip, but this is from like four days ago, november 12th. This is me talking about a fibonacci range um and also talking about the dollar, ninety to two dollar range, and there it is in white, the dollar. Ninety two dollar range that weve been tracking as really a support area. I believe i said i wont be really concerned unless cardano starts, closing candles below and guess what, on the six hour chart there its closing candles below right. I was really really hoping. Cordano was going to just kind of even with this, this red candle right here and that that was the six hour that that closed out the the day, the daily candle. I was really hoping. We would just wick up on that that six hour and – and it would just be a nice long, wick down here and wed close above a dollar ninety at least right, so we can start just tracking as support. But here we are we closed. The candle were were putting in a new six hour red candle below that one uh, so its really decisive moment for cordano as its hovering at this 200 day moving average. So if we look at this six hour, just one thing to note is the fact that its its just below 190, its not a clear strong breakthrough. We dont have a huge like six hour close below, but its a close right and when were watching the story of patterns play out.
You all know im extremely uh aware of this descending triangle, and i still am im still very aware of it, and this 190 to two dollar range is a huge, crucial part of it. For me, its kind of that its acting as that lower trend line area of the descending triangle, but it would it wouldnt, do us any good if we didnt also chart what we see here, lower lows of these wicks on the six hour right, so in blue, I put this lower trend line, so we have kind of a descendant or we have like a a falling wedge where cardano is trading. We kind of wicked to this lower trend line and the move is very similar to this move back here we have this wick and then we had a couple moves a couple six hour cloak candles just be just after this crazy wick right. Actually, a few candles right here, but never going back down into that vicinity. So the question: are we gon na get something similar just a few, a few six hour candle closes and then boom maybe get some upside or some sideways or something because very quickly. Cordano can see a balance im not trying to throw opium but heres a little sprinkle a little hopium into this video. If cardano can do the same type of thing, retest, this entire range of 190 to two dollars very easily can be just above this upper trend line once again with a potential breakout.
Potential right that were all really would like to see were all rooting for that. But – and i have to throw this out there – this is the other flip side of it. Be very careful. Everybody be very careful. Um make your plans accordingly, because if cardano breaks to the downside and if we actually just to illustrate very nicely heres the my heres my descending triangle, it doesnt look very pretty on the daily but were pretty much below the lower trend line right now. So the target of this is a dollar thirty dollar forty talked about it for a while right its in play. Are you ready for that thats all thats? All i can say we know the targets to the upside right. The 290 to three dollar range now weve broken the lower trend line its like alerts going off uh. Are you ready – and i am because to the downside for me, especially when cardano is oversold here like it – is on the stock rsi that we see here oversold. If theres gon na be downside to a target like that, its just thats thats, where the heavier accumulation begins, at least for me and so thats kind of why my alerts are on with whats happening here at the 200 day, moving average. With this lower trend line breakout of this descending triangle, we can obviously monitor this this falling wedge as well in the meantime, but you can just see so much synergy on all these charts coming together, cardano really at a decisive moment, whats going to happen.
Who knows whats going to happen, would love to see a bounce where it is right now just similar to kind of what happened back here. It would just it would just be nice to see we can even chart what it would look like. We can take our bars our bars indicator here kind of from where it is. We can even take this drop off right stretch it over. So it would be something like this lets put that drop off right there. Something like this. This would be the move that wed want to see right. Cardano, you stretch it out the volatility of it. Who knows what it would do, but we want to see cardone if its trading sideways to get out of that upper trend line start seeing higher highs on the chart similar to what happened here, but maybe maybe a little stronger of a move. I guess we could say so be prepared everybody thats thats what this youtuber is going to say, im in your boat im, watching the charts with you, but as we chart this, as we illustrate it as we visualize the the potential scenarios. One thing i know: theres wisdom in being prepared and not just blindly throwing darts and gambling and and guessing and trying to predict there is wisdom in preparation, and we know our targets have your plan with where cardano is right now and and stick to it. So those are my thoughts, everybody.
I appreciate you. If youre not stake in your cardano stake with us, ccv one is our newest pool. Weve got almost 20 million ada staked in there and uh. I really appreciate all of your support as we grow these things. Some cool announcements coming up, sarah and i are actually getting ready to uh, do a bit of traveling and, in the meantime, going to do uh, just a cool announcement, so uh in regards to the stake pools in regards to your support in regards to what were Doing here, crypto capital, venture, uh and things were passionate about so really excited for that. But i appreciate your support. I wanted to say that i appreciate all of you. I truly do hit the subscribe hit.