Welcome back family. Appreciate all the love. Let’s get right into today’s update. Understand what’s happening with ADA and of course what we could be expecting as we are going further into the weekend. Uh but you know speaking about the weekend, I want to say one thing guys, make sure you are stepping away from the markets. Uh like you know what I mean by that is like taking a break like go out um you know spend some time with the family. uh just enjoy yourself because you know life is there’s so much more stuff uh that is important in this life than you know money yes I understand you know we want money to get that financial freedom but that doesn’t mean you neglect things that are important to you in your life with this liquidation that we’re seeing um again just wait for my updates I’ll give you guys the update but after watching the update make sure you guys go step out and um you know just touch grass that’s like you know a famous saying it’s very very important to do that because let’s face it, you know, I’ve been in this space again, I’ve said this so many times that I know there’s a lot of new people coming into the market and new subscribers coming on to the channel.
Crypto Market Experience Advice
Um, but you know, I’ve been in this market for almost 10 years. And let me tell you one thing, guys. Let me tell you one thing. I’ve done that. I’ve done like, you know, staring at the screen 24/7, neglecting my personal health, neglecting, you know, more important things in life. Uh, and um, you know, let me tell you here, it’s not worth it. I promise you, markets are not going to go anywhere. It’s not, you know, it’s not it’s not like smart like that would be a way to put it. It’s not smart to just sit and just scroll on your portfolio every day. But again, that’s just one tip that I want to give you guys. Enough with the rant. Let’s get right into today’s update and really understand what’s happening with ADA.
Cardano ADA Price and Market Overview
So again, the broader market, a few coins that are, you know, bouncing, but in the grand scheme of things, of course, you know, we need to be focusing on some of these other things. Uh price of Cardano 63.19 cents, down about 1.8% 8% in USD, but in Bitcoin comparative, it’s actually up about 1%. The valuation sitting at $23 billion and the 24-hour trading volume at about 3.2 billion. As always, just a quick disclaimer, anything on this channel is not financial advice. Always do your own due diligence and research when you are investing in crypto.
Bitcoin Dominance and Crash Analysis
So, take a look at what’s happening with the dominance. Of course, we came down to 60% and you can see it is building strength. Again, if you’re looking at Bitcoin on the other hand, again, going back to what I said and every single update, uh, you know, after this, you know, big crash that we did see for the broader market, you will hear me say one same thing, and that is, you know, Bitcoin is not out of the woods yet. And, um, you know, I personally think Bitcoin is going to try to fill this wick that we did see just yesterday alone. So, what does that mean? That means that, you know, there could potentially be more pain. Um, I don’t think it’s going to be, you know, fast like as fast of a recovery because of course, you know, we’re talking about the largest largest liquidation in the history of crypto. That’s something that is not slight.
Retail Participation and Capital Strain
And right now, believe it or not, I’ve been, you know, getting the same type of uh, you know, same same type of comments from a lot of people. Again, not just to myself, but if you’re looking on X as well, people don’t have capital. people don’t have capital to deploy in the market and a lot of retail that did have some capital got wiped out. There’s a lot of people that got wiped out unfortunately and again I have been emphasizing this on my channel quite a bit. Make sure you guys don’t touch leverage. Make sure you guys don’t touch leverage. Very very important to keep in mind.
Bitcoin Key Levels and Cardano Fibonacci Zones
But as of now the price of Bitcoin still remaining above the 23.6 fib zone. Uh we did break below the 23.6 6 fib zone just a few hours back, but the price was able to recover right away. But again, like I said, there is still a chance for Bitcoin to retest um you know, the lower levels, especially around $107,000. That’s the next support line. And pretty much after that, I think it would be open to actually fail this wick. If the price of Bitcoin gets down to 107, which I think is very realistic, dropping below here opens the door for us to fill this wick. That is why I’m saying I have this gut feeling. And as of now, I’m still going to uh go based off of what I’m saying. Uh unless of course, you know, we do see Bitcoin breaking above $122,000. Uh 117 I know is my confirmation. So is 115. But with this liquidation that we have seen, 122 is something we want to be paying very close attention to.
Cardano Price Reaction and DCA Strategy
But uh taking a look at ADA, Cardono’s price is below the 78.6 Fibonacci retracement level. Let’s take a look at ADA on an hourly perspective right now and understand what’s really going on. So, the price of Cardono uh did try to, you know, make its way back up to 68.5 cents. You could see for yourself just below the 78.6 fib zone, but didn’t really end up making exactly the 78.6. We were very close, but since then, the price has retraced once again about 11%. So, going back to what I said, nothing to be getting overly excited about just yet. Um, but with that being said, um, again to people that truly believe in ADA, remember there’s a famous saying, be greedy while others are fearful, be fearful while others are greedy. And I know some of you guys are actually dollar cost averaging in because let’s face it, just last week, the price of ADA was sitting at 87. If you put this into perspective, that itself is a 40% gain if we were to reclaim back up to that key range, which I think uh ADA price will a be able to do that.
Discounted ADA Prices for Long-Term Holders
Apologies guys, still under the weather, but um yeah, so that itself should tell you that the price is definitely on at discount if you are a long-term believer on ADA. Um and I know there’s a lot of people that are long-term believers. Uh they are accumulating right now. They’re not expecting this to turn around in a day or two. But again, you know, this is something we want to keep in mind because these prices are uh you know, much lower than u you know, where we were prior to you know, this retracement. So, uh even though I know a lot of people I’ve saw some comments coming in, oh, I wish I got in at 27 cent this and that yada yada yada. A lot of exchanges like centralized exchanges to be specific. Uh I’m not sure about decentral no not decentralized exchange can’t happen on a DEX but majority of uh these coins are actually listed on centralized exchanges and a lot of centralized exchanges you know crashed yesterday like you could not even buy anything at that price point.
Dollar Cost Averaging and Market Timing
So um some people got lucky like maybe if they had buy orders placed in but not many people were able to get in around here. But again, we are uh still having an opportunity for people to dollar cost average in. But with that being said, if you’re still sidelined right now based off of looking at Bitcoin, that is also a smart thing to do because Bitcoin is by no means where it needs to be. It’s definitely not where it needs to be. And of course, we’re in a weekend. On the weekend, it’s more manipulation than usual as CMA futures are closed. So, uh do I think the price of Cardono could retest down to 56.87% 87% if Bitcoin is able to drop uh back to the 107 absolutely um and you know obviously the major support for bit I’m sorry Cardono is at around 10%. Um again that could still be in play especially if dominance continues to rise up that is something we want to be paying very close attention to.
Bitcoin and Cardano Critical Support Levels
Uh but you know once the uh Bitcoin price stabilizes itself which it’s not doing you don’t and again listen to me very carefully guys you don’t want Bitcoin dropping below $100,000
$111,000 such an important level already for Bitcoin and we can kind of see that. Um again it’s a 23.6 dropping below here would be uh you know a really really uh scary thing. Uh but yeah dropping below $100,000 is where uh you don’t want to see Bitcoin going. uh some people are already calling that you know this is the new start to the new uh cycle already you know we’re done with the previous cycle I still don’t think that I still have a feeling that we will see a recovery uh market top I think is still not in play um this was due to a major liquidation I think a major manipulation occurred uh it shouldn’t have been this big but it is a reality again stuff that is not in our control um but again these are things that you know we want to be paying very very close attention to and not neglecting obviously We do have some support coming in for ADA around you could say 60 cents as well, but uh you know ultimately uh let’s not write off this key support line at 56 cents right now based off of what Bitcoin is doing.
Final Thoughts and Community Updates
I’ll keep you guys covered. Let me know in the comments what you guys are doing. Uh if the comments are turned off uh it is due to obviously you guys know there’s a lot of spam comments. I try to delete them manually, but sometimes it’s so hard to do them. It just keeps uh me to just actually turn off the comments uh easier that way. And follow me on Twitter, guys. I I’ve been I don’t know what I’m saying, guys. I’m still under the weather. I’m too excited. You want to talk too fast, as you guys know, I’m very uh excited at that point. But make sure you guys are following me on X. I’m going to start posting on X every single day now. So, really building a big community on X. Let me know in the comments if you guys uh have subscribed or, you know, ping me a message on X. Love each and every one of you guys. We’ll see you later from cryptos X