Cardano Underdog Status Ends Soon!

Cardano Underdog Status Ends Soon!

here’s Ada zoomed out on the weekly chart I’m excited actually to dig in some data I came across a clip a video clip that I did back in 20120 a very similar time frame of where cardano is right now awesome data excited to show you kind of new in in that regard and I want to just talk about ADA price obviously but before I do I just want to say if you’re an ADA holder if you’re like one of those people out there silent majority I’d say like over 95% of you you don’t get involved in the crypto drama you’re not you’re not hate commenting on other chains because you hold that crypto you’re just simply you’re you’re maybe a value investor with cardano and you’re just sitting back even with all the drama the noise the negativity whatever’s going on in crypto in general but cardano you’re just sitting back you’re waiting I just want to say thank you just thank you for being out there because truly that’s my that’s my crypto Journey I’m actually a very introverted person but I do sit here and I create content right I put on the camera I create content I track my crypto Journey cardano a big piece of it I cover a ton of Bitcoin and other alt coins but cardan is a big piece of it with that on the front lines of content creation for cardano there’s a ton of negativity out there everybody there’s a ton of tribalism and it’s just like can’t I just be bullish on cardano in peace like it’s just it’s just it’s just a cryptocurrency and this is a big part of my journey I I see what I see on the charts zoomed out let me just be bullish and track cardano in peace it’s crazy and I’m saying thank you because it’s all of you out there it’s just encouraging to me to know that so many of you are just out there just hanging out right you’re just hanging out you’re you’re kind of putting aside that drama and I try to do that every day it’s just you know I get exposed to that drama a lot in the comments but knowing you all are out there it truly does help me continue doing these videos and and just being open about my crypto journey and I want to do that right now I want to talk about ADA where it is right now and what’s really cool is we have some we have some content now going back years to really put the story together and even as it relates to cardano price in the short term so please hit the Subscribe hit the like let’s jump into the video this is a on the daily chart we’re going to talk about it you know just the setup what’s going on there but truly this is really cool I want to I want to just show this clip this is from three well it says three years ago but September 11th 2020 September 11th 2020 that is almost four years ago check out this Quick Clip Ada was around just under 10 cents check this out but if you can adopt a mindset that is in the macro environment zoomed out on the charts you can kind of develop some patience so that all these little moves that cryptos do even this one a seemingly Big Move 50% or sort of downside they won’t bother you as much if you’re ready for these huge moves and understand okay if if we’re looking for a major shift in momentum in all the these markets right in this cycle we’re talking years worth of data to shift and turn around you have to have these big moves for continuation you have that’s the story and when I talk about me tracking my crypto Journey for me a lot of that a lot of it is that just zoom out in the macro understand that these massive dips they they come along understand that depending on what crypto you are in you might be in a a bearish season while some others are in bullish Seasons that is just something I’ve learned in this space now what’s really cool in in regards to that move by the way September 2020 if we’re zoomed out now on a on a cardano chart September 2020 kind of back here so this is the move that was happening we’re like in it and there’s been a lot of similarities in terms of that move compared to this move this cycle around this cycle around right here’s the Bitcoin having last cycle around here was the Bitcoin having so as a starting point from a macro perspective I just want to mention something when that move was occurring Ada was like around a 100 days past Bitcoin having right now A is around 20 some days or so past Bitcoin having right it’s not even been a month since the Bitcoin having and AD is in a very similar technical move and the other thing that I I wanted to mention was this because the other side of this and this is I think where maybe a lot of negativity comes from and you know people fail to zoom out on the charts no matter what crypto you’re holding something like salana right now has been outperforming cardano there’s no doubt about that right and and props are salana holders good for you but because that’s happening there’s this narrative and it’s a it’s a short to midterm I think narrative that cardano’s just failing this that cardano is never going to have a bullish season ever again and I think that’s silly and you can actually even go back and I’ve done this before I’ve showed this but you can go back to like even this move from from Bitcoin having to That Swing High Ada was up if we actually go here there we go 180 All the Way That Swing High 28 a was up but you look at something like chain link look at chain link and we’re talking just it was just going crazy chain link up around 400% right from that move so last cycle because obviously we’re zoomed out we’re talking about similarities in this move that the time frame of this move last cycle at this time there were other cryptos outperforming Ada and I’m sure Ada was outperforming other cryptos but this is just how crypto goes and I just want to bring that up up again because I really think a lot of people get distracted and I I I posted yesterday on X and we’re going to dig into the charts here people are giving up on cardano already and crypto has hardly entered its bull market altcoin season is still months away people should try to temper their expectations and that’s just me me and I’ll say this time and time again maybe cardano maybe maybe all of crypto this cycle just takes off maybe maybe I’m right and the bull market hasn’t even really begun all of crypto takes off and and maybe cardano just is sideways and doesn’t do anything and it falls right maybe maybe maybe Ada price just completely fails there are no guarantees in this space I’m always prepared for that right but to sit here and look at this zoomed out chart and look at the consistency and look at historical data which I’ve done across multiple cryptocurrencies I’ve I’ve used Bitcoin as a road map and i’ I’ve seen so many consistencies to zoom out here I just see cardano in a in a very healthy spot right now and because it’s been kind of an underdog to this point I think that makes it even more bullish because it’s been just an underperformer against some some some cryptos I think that makes it extra bullish now what I want to discuss is kind of the technical analysis aspect of this move that’s occurring right now I thought it was interesting if you actually look at this clip you see this green rectangle right there that’s a it’s a higher low Fibonacci that that we were discussing I think even just talking about ADA maybe going lower right it was 9 and a. half cents then and if we go back and look at that chart you can actually see It ultimately bottomed around I guess what was this seven and a half cents right what I want to talk about is the very fact that if if we go to the Ada charts now right we can draw a similar Fibonacci and really what it is is it’s a swing low here to swing high it’s a higher low Fibonacci and actually if you look at this Ada has is is testing look at this if we chart this Fibonacci adaa is right now testing the upper end of that Fibonacci round the 618 right around 45 cents it’s been for weeks holding that area if we go back to this last cycle on this very similar move I want to show you something I just thought was interesting as Was preparing the video from the co swing low to co swing High there’s the Fibonacci right and you can just see that 618 being very much tested right around that 7 and a half cent area and eight a bounced but what I want to talk about also is just the fact that if we look at that move right it’s interesting to to take Co into account and say you know what what if that never happened would Ada have dropped so hard or would it have been kind of like a bounced to the 20we moving average just a slow consolidation with no drama unfolding across the world and then moving higher and in that case if something like that happened and we charted a longer term Fibonacci right and and then we remove the co Fibonacci check this out now we’re maybe in a similar type of setup that ADA is potentially in right now look at that just Ada hanging around that 618 of the Fibonacci and then we go and we look at adaa right now and we’re like man again let’s take our Fibonacci on the weekly swing low to swing High there’s Ada hanging around the upper end of the Fibonacci it’s just no matter how you spin it Co in play or not ad is in a higher low move on the macro around having and actually this cycle around you can see it’s happening just sooner right and at the same time as we’ve already defined there’s there’s other cryptos that are outperforming Ada right now and last cycle that was also the case and to me that’s okay I I just I like to just say you know what I’m just bullish on Ada and I would like to see as a crypto person how this plays out and why people are triggered by that is crazy it’s crazy to me I’m bullish on all of crypto and I want to see ethereum holders win salana holders win xrp Bitcoin I want to see everybody win in the space part of this for me is cardano and you see what that looks like on the macro and that’s just me now we start digging into the charts a little bit right so we we see that move on on Ada on The Daily back then just big downturn for Ada but I want to I want to dig into what’s going on right now here’s the downturn for Ada let’s talk about two things downside and upside when it comes to downside it’s very simple the lower 30s is that Target for 8 right out of this Rising wedge we broke out of the rising wedge uh back here in beginning of uh April around a month ago consolidating now often times with patterns like this we’ll see a drop halfway through or so we’ll see some structure trying to form and then it’ll continue down to the Target right that’s very common something else that’s common though is a break to the downside and then a pullback to at the very least test the trend line it broke out of and then maybe continue to the Target this could be very long out drawn there could be way more negativity or we get the pullback and we break back in and then we’re in a busted pattern which could end up being incredibly bullish for this Underdog Ada but let’s just note like the target to the downside is there if crypto is going to fall the target to the downside is there but if crypto is going to bounce and if Ada finds itself in an environment where you know what all of a sudden it does something crazy that shocks everybody right because it’s the underdog just like last cycle a data is in a position where it could really just do something incredible right from a price perspective but what does that look like from a just non-emotional technical analysis perspective very simple we need to break through very Cru crucial levels right now the 20-day moving average around 47 cents the 200 day moving average around 52 and the 50 moving average right around 53 54 cents that is a very small range Ada is it is below that range right now I’m not getting short midterm bullishness on Ada until we at least break these areas right that’s just me I’m long-term bullish on a right even if a is going to fail here at this resistance and fall lower I’m still long-term bullish on a but shortterm midterm bullish if we’re going to get this pivot above these moving averages that’s the key for Ada that’s what Ada needs to do right now that’s really what I’m watching in the short term but to talk about that move I wanted to zoom out in the daily a little bit and I wanted to just note couple things when it comes to momentum very good to see momentum oscillator the RSI right here with these higher lows Ada kind of just consolidating sideways it’s it’s a bullish move of momentum on Ada what I wanted to show you was when Ada last bottomed out back here sideways you can just see for quite some time this is basically for weeks right sideways but all the while you can see that RSI escaping higher lows on the RSI while it’s kind of going sideways this was a key indicator that a was about to make a power move to the upside this could be a key indicator that ADA is about to make a power move to the upside again just an indicator it’s not a a a definite prediction but that’s a key indicator that’s exactly what we want to see on a momentum oscillator you can actually even see the macd line just cruising to the upside you can see uh on Ada back then along that consolidation as it was forming that bottom back there and and we have something similar happening right now this move to the upside there’s that macd line that blue line cruising to the upside it’s above the signal line in red obviously uh at the bottom of the screen the histogram in green the histogram was in green back here right and then what happened Ada ultimately after one more little dip Ada had its break to the upside and it got bullish once the Mac dline right here in blue finally made its way to zero uh on this chart and then that was the breakout move so maybe maybe Ada needs to be sideways a little bit more choppy for a little bit longer maybe it’s going to break down to the Target to the downside but either way momentum oscillator is is giving some bullish signs some hints some clues that ADA could be very ready to break out um the timeline of that it’s just you you can’t tell it could be now and it could be in a week or two right it could be weeks away so this is what I’m watching though I think crucially in the short term it’s this 50-day around 53 54 cents down to the 20-day around 47 cents that range right there that’s a key range for a that I’m watching and it’s going to be interesting to see how Ada interacts even right now as I’m doing the video a is actually trying to make a little bit of a move to the upside testing the 20-day moving average don’t be surprised if the daily candle right here ends with a a wick of resistance here this is going to be actually kind of fun to watch now that it is making a little move to that area we still have around almost 9 hours left of the daily candle let’s see how AA interacts with this first area this first challenging area of resistance for Ada can Ada break and close a daily candle above the 20-day this could be the first sign that a is getting ready for a really nice reversal and if if we just look back here what did Ada do it closed when it was starting to make that move to the upside this move that we’re talking about it started closing those daily candles above those moving averages so that’s what I’m watching for Ada but all the while everybody I just wanted to zoom out for just a moment just show you where Ada is from a macro perspective take some historical data especially because a lot of it ties into my own crypto Journey it’s crazy almost four years ago we’re tracking Ada and we’re tracking this entire Journey that it’s on and everybody I haven’t even talked about fundamentals when it comes to cardano like what’s getting ready to I think happen there’s so much opportunity within the ecosystem cardano becoming so decentralized I think that’s a really I think that’s a really powerful play Within crypto right now the space is becoming more and more centralized to have a top 10 crypto that is truly going to be like the most decentralized I think that’s a power play I think there’s going to be a bullish narrative there let alone everything else that is going on within the cardano ecosystem so these are my thoughts on cardano everybody if you’re an ADA holder out there I appreciate you and I hope you have a a good rest of your day let me know your thoughts in the comments below hit the Subscribe if you’re not a subscriber I’ll see you in the next video God bless

In this video, I discuss Cardano on the weekly chart and compare its current state to a similar period back in 2020. I emphasize the importance of zooming out and maintaining a long-term perspective amidst crypto market volatility. If you’re a Cardano (ADA) holder who’s not caught up in crypto drama, I want to thank you for staying positive and patient. We explore ADA’s historical patterns, highlighting the similarities between this cycle and previous ones, and analyze potential price movements based on technical indicators like Fibonacci retracements and momentum oscillators. I also touch on Cardano’s growing fundamentals, its increasing decentralization, and the bullish potential it holds. Ultimately, my message is one of optimism for Cardano, despite the negativity and tribalism often seen in the crypto space. Hit subscribe for more updates, and let’s dive into the charts together!

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Intro 00:00
Thank you ADA holders 00:20
2020 vs. now 2:10
This is how crypto goes 5:20
Current ADA price higher low 7:30
Cardano price short term target 10:05
Bullish hints of momentum 12:20

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