Cardano BREAKOUT Alert! Solana & AVAX Offer All The Clues!

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In this video, I analyze the potential breakout of ADA (Cardano) from a significant descending triangle pattern that has been forming since the bear market of summer 2022. We also draw massive comparisons to other altcoins like Solana and AVAX. Focusing on the six-hour chart data, I suggest a potential rise to a target of 75-80 cents. I draw parallels between ADA’s movement and the recent positive trends in other cryptocurrencies like Solana and Avalanche. Using historical data and technical indicators, particularly the Lux algo indicator, I discuss the possibility of ADA’s breakout or further consolidation. I also reflect on the broader cryptocurrency market trends, emphasizing the cyclical nature of altcoins and the stronger position of ADA compared to the previous cycle. The video aims to provide viewers with insights into ADA’s current market dynamics and what to expect in the near future.

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Intro 00:00
Solana and AVAX offer the clues 00:40
Cardano price warning 3:20
Why ADA may not breakout 4:00
The case for Cardano breakout 6:00
This Cardano weekly chart is crazy bullish 9:30

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There’s Ada on the 6 hour it looks like it wants to go higher it looks like it wants to put in a higher high wants to kind of explode to this 75 80 cent Target that we have to the upside I’d say 75 cent is a fair Target out of this

Massive descending triangle that goes all the way back to the bare Market summer of 2022 look at that massive triangle Ada wants to breakout in this video I’m going to break down the case what to watch for a an indicator that that should be triggered that we will

See happen if a is going to make this breakout but and some of you might not like this why on the daily chart it just it just might not be ready it might not be ready and I’m going to break down the real data for you everybody what to look

For though in terms of if it’s going to happen but what to prepare for if it doesn’t so please hit the Subscribe hit the like let’s just jump into the video I want to just show you a salana chart it’s looking beautiful avac chart looking beautiful on the weekly this

Gets me hype yes even as somebody that’s way bigger fan of ADA it gets me hyped to see these other cryptos moving the way that they’re moving not only because it’s provided really solid data and insights into the cardano charts and all of crypto but also because this is what

Crypto does to see crypto right now doing exactly what it’s been doing every cycle I like that I like consistency in data so before we dive into the shorter term move what to anticipate and and the move to the upside or downside for cardano

I want to I want to show you a clip this is from October 31st 2023 salana skyrockets cardono holders need to watch this cardano was 29 cents when I recorded this video right now it’s 64 cents it’s it’s doubled since doing this video and that is just a perfect example

Of what I’m talking about in this clip check it out if you’ve been in crypto for any amount of time one thing that you may have noticed and taken very strong note of is the very fact that altcoins when they’re pumping they just take turns and over the year altcoins

Take turns everybody and and we we anticipated a solid move for Ada from 29 cents because of what salano is doing and I’d say we got that solid move from the O from the end of October right from right around here when I did the video

I’d say that’s a pretty solid move but we continue to analyze data I did another video I’m not showing a clip but salon and avax rally signals Ada a breakout this was mid November right and what happened mid November on the daily chart if we if we go to Mid November

Some consolidation and then boom we got to move to the upside there’s reasons why I show this these clips and and it’s just simply to show you the data I’m preparing and showing you in this video is the same type of data and approach that I

Have at that time and even in 2018 bar Market when I was doing videos it’s the same type of data it’s based a lot on historical context and it’s been so helpful to me so with that said let’s look at the charts this is Ada on the 6

Hour which I’m about to visit I want to visit this this is going to be where we discuss the breakout for Ada and the possibility of it but before we do I want to revisit the Ada daily chart and I really want to revisit the salana daily chart because the move that’s

Happening this move of structure that you see happening for Ada we got the breakout to the upside and then the consolidation right into the 20-day if you’ve been watching my videos you know this is exactly what we want to see but that move of structure that’s happening

Right now on Ada is something we anticipated because of a salana chart it was this move on salana back here in November that is this these Wicks of resistance salana just making a move into the Wicks of resistance and then kind of consolidating into the 20-day moving average that structure forming is

What we’ve been anticipating for ad and it is playing out what I want to point out and this is where kind of caution just creeps into the picture the caution that says it just might not be time for adaa to break out and put in a higher high it might not be right

Now the the piece of data that says that is this going to the salana Chart if we look at the date range this first Wick of resistance back here to where it finally did break out 26 days and notice the Lux algo indicator everybody and these indicators by Lux algo I’ve just

Enjoying them so much I’m getting to know them I’m enjoying them you know they’re a sponsor of the channel but this break of structure is what really triggered this next leg up for salana but it was not until 26 days of consolidation where you actually see salana hitting the 20-day moving average

A couple of times you go back to the Ada consolidation that’s taking place we’ve not had we’ve had not 26 days from this Wick of resistance the comparable Wick of resistance but 13 days that’s not to say that we have to wait another 13 days it’s going to make the same exact move

As salana that’s not to say that but I think it’s I think it’s at least wise to consider there might be further consolidation and not only that we we’re waiting for that break of structure to trigger for Ada in the same sense that happened for uh salana right we’re

Waiting for that and whether it’s now or over here or maybe it doesn’t even happen that’s something I’m waiting for but we also have this Lux algo order book level of resistance you can just see this massive level of resistance for Ada and that’s what a is contending with

Right now on this chart you can even just see kind of just making its way into that area pulling back down and right now as I do this video making its way into the video or into the into the area of resistance right now but now we

Can kind of pivot over to to really get a better perspective of of the move that a is in right now as I do the video we can pivot to the six hour and we can just start looking for looking at the adaa chart as is right not taking outside data really

Just looking at the at the chart as is and that is to say this we have what just triggered on the 6 hour and this is kind of the case for adaa to break out and and let me actually draw this area of resistance for adaa Swing Swing High

To swing low this is a shorter term area of resistance I want to plot it on the chart because I think it’s very meaningful on the 6 hour it’s what I’m watching right now tonight overnight it’s this lower high Fibonacci right so right now you can see the higher end of

The Fibonacci is is basically right where Ada is right now Ada is contending with short-term resistance as I do this video but what did just trigger is this Lux algo indicator this it’s a change of character indicator which is basically it’s price breaking a prior swing low

During an uptrend or a prior swing High during a downtrend and this is a supported change of character you see that there’s a plus sign at the end so you can just see it’s following a failed lower low so you can see this swing low and then we actually have a higher low

So it’s a fail lower low and Ada breaks to the upside we have this change of character in play right now the reason I’m bringing that up especially as we start talking about the case for a breakout to the upside is simply because if we go back and we look at that really

Nice last breakout that monster breakout that AA had one of the last things that triggered for Ada was a supported change of character uh that triggered on this Lux algo this Lux algo chart so and you can even just see if if we let me just

Zoom out so you can see kind of both at the same time let me remove this but you can actually just see back here there’s a change of character that hit it triggered and it came right off this bounce of support at this order book level another Lux algo indicator and

Right here change of character supported change character bounced right off of this order book level and but right now what we’re doing is we’re we’re T we’re testing a lower high on Ada so but just check it out right after this triggered Ada Consolidated back down briefly right

To that general area where that change of character triggered and then it was Off to the Races we even we even saw a break of structure trigger right right shortly after that so that’s kind of what I’m watching on right now it is based off of we got that that indicator

Triggered maybe we come back down and test this 62 Cent area and if we put in just this higher low area once again and we start moving to the upside this could be the breakout that we’re waiting for it’s set up to do that right on the

Zoomed out chart though I like to be careful and say there might need more structure on this daily chart in terms of ADA especially with things we’ve seen on on charts like salana but zoomed out don’t forget it everybody if a is going to break out if it’s going to break this

Order book level of resistance you can see just about to 60 67 cents or so it’s going to be I think it’s going to be a really powerful move if adaa can if can break the range that it’s in right now start putting in a higher high and

Breaking this previous swing high this is going to be a massive move and on this daily chart we’re probably going to see the break of structure uh trigger for Ada and we might get a monster move 75 80 cent Target to upside I think is a

Very fair Target to the upside the one thing I wanted to start this video by just mentioning this if we go to Ada on the zoomed out can we just talk about the very fact that at this time last cycle at this time last cycle right here

A was like just getting done falling by the way right but it was down around 97% from alltime high this time this cycle not only are we not like ending a fall but we’re actually up on a run of like 160% but not only that we’re not down

97% from alltime high right now we’re down only right around 79% I know people are going to make fun of me only 79% Dan welcome to crypto everybody that’s what crypto that’s that’s just what cryptos do you go into a bare Market you’re ready for 90% plummet if not more

And you got to prepare accordingly going into the next bear cycle we will be preparing accordingly but that’s what crypto does but the data does not lie we are in a more powerful position than we were last cycle at this time and that’s not just for Ada this is for altcoins in

General look at the 20 we moving average getting ready to cross the 50 we moving average this move that you see happening right there that did not happen until Bitcoin having last cycle that’s how that’s how much earlier it’s happening this time around so I just wanted to

Point that out everybody these this is all the data I’m watching on cardano um I’m going to continue watching it I’m going to continue also keeping an eye on a I mean look at AAC right now AAC is having its time to shine once again still going higher as I do this video

It’s a six- hour chart uh putting in a higher high on Ax salana same exact thing this is a weekly let me change it to a six hour still going higher this could be a very good sign for Ada but remember just like we tracked in this in

This whole recent move in multiple videos cardano just takes a little bit longer in this regard things like ethereum even worse ethereum is getting a lot of hate right now cuz it’s not it’s barely moving at all in comparison to all of these including Ada so I’m going to continue being patient with

This this daily chart consolidation it might not be time for AA to make that monster breakout we all want to see uh but on the 6 hour as we just discussed the setup is there so I’m going to be watching it everybody if you want these

Lux algo uh indicators hit the link link below everybody I I have a yearly plan with them now I’m having some fun with them that’s all I’m going to say I’m going to be really working it into especially as we go into the next Bull cycle I’m going to be working into just

My my my exit strategy I think as well as trying to to find data that’s going to help me prepare for the top of the next cycle and do a better job this cycle around in terms of pivoting from altcoins pivoting from something like Ada to bitcoin preparing for that next

Bare cycle I think the macro uh the macro power of the Lux algo indicators is way stronger for me personally than than the zoomed in 6 hour is going to be fun to use which we are here but it’s that macro that I’m excited about so appreciate all of you

Cruising through everybody hit the Subscribe hit that like turn notifications on I’ll see you in the next video God bless