Should I Buy Cardano ADA Now? | Cardano ADA Price Prediction and Technical Analysis 2021

What's up everybody, welcome back to The Art Of Crypto, the birthplace of absolutely legendary gains. In this video, let's take a look at ADA. Now, this video was made by popular demand, and from that demand, I can see that most of you are actually ADA holders. So if you wanna know what I think is gonna happen next to ADA in the upcoming couple of days, maybe to a week, and for those of you that are looking to get into ADA, this video is going to tell you exactly where are the best prices to get yourself some ADA. So that you can multiply your money rapidly. And if you haven't already followed me on Twitter @TheArtOfCrypto, I want you to do so. This is where I'm sharing the latest market updates and you are not going to want to miss out. So just to kick things off, let's take a look at the daily chart. And right off the bat, I do not really see anything that is particularly interesting on the daily chart other than the fact that we might have a little pattern forming here. But at the moment, We are still above most of the major moving averages on the daily chart, and so I wouldn't be so quick to worry. But if there is one thing that slightly concerns me, or rather than concern, I would say if there is one thing that you guys should keep an eye out for, is the fact that if you just take a look at market cipher right here, you can see that we have formed like two really deep waves, right? And these waves are what we call anchor waves, which is basically just like waves that are like really, really thick. So this here is an anchor, and this. This here is fairly deep as well, but this one is what we call a trigger wave. A trigger wave is simply a wave that is shorter than the previous anchor. So you can see that momentum, it appears to be going downwards. And the way that this relates to you is the fact that if ADA fails to form a higher wave than this previous wave right here, you are going to essentially get another red trigger wave, which would indicate that momentum is shifting down even more. Now just to put that into perspective for you, let's assume that this next wave for Cardano might come up to about here. So if we get a red dot here, it would show that momentum is indeed shifting towards the downside, which is not going to be pretty for Cardano. But here is your saving grace. I know a lot of you believe in ADA, and Charles Hoskinson is doing a really good job with his marketing of ADA as well. So I do not expect ADA to stay down for long, especially considering the fact that ADA has one of the most engaged communities out there. I do not think that you guys are going to let ADA die or fade into obscurity. But this is still a possibility that I want you to keep in mind because no matter what, over here at this channel, we are grand strategists. We do not want to be overly biased towards any given direction. So I just want you to keep in mind that if we do get This trigger wave towards the downside, it is not gonna look pretty for Cardano. But here is another saving grace. If you can just take a look at the money flow right now, we are still in the green, which means that money is still flowing into the asset in general. But in the event that we do get this trigger wave and then you see Cardano price start to fall, especially along with momentum starting to fall as well, then what you're gonna get is money flow will start to flow down into the red as well. And if that happens, it is not going to look pretty for Cardano. But as usual, nothing is confirmed until it is confirmed, so I'm simply putting it out there as something that you might want to keep an eye out for. So now that we have identified what is going on on the macro scale, let us zoom into a lower time frame such as the 4-hourly chart. Because I always like to say this, if you don't understand what is going on on the macro level, it is going to be impossible for you to do any trading on the micro level. So now that we understand what we are looking out for, let us hop into the 4-hourly. And right off the bat, this morning in the private Discord group, I actually called for everyone to buy the breakout out of this level right here at 1.78. And by the way, if you're not in the private Discord group yet, we are absolutely killing the markets. We are getting profit every single day, and we have people making back their membership fee in less than 24 hours. So If you haven't already joined this Discord group, I am only going to be taking in another 90 members because after the Ethereum video that I posted yesterday, we have had 10 extra people join the Discord group. So 90 spots remaining. And mark my words, once spots are filled up, I am not planning to open signups for a while because I wanna be able to dedicate focused attention to every single member. And I cannot do that if there is a sudden influx of too many people. But anyways, I was calling to buy the breakout out of this ascending wedge almost. And just like how ascending wedges tend to play out, we have fallen into the downside. So at the moment, this trade right here is invalidated. However, should we get a break above of this $1.78 level, I do believe that ADA is gonna absolutely take off up to about $2-ish, maybe even more, because this level right here is what you call as a major level of resistance. And there is a saying that once you flip a resistance into support, then you know it's gonna fly. But until we get a breakout of this level right here at 1.78, I would actually look to load up on ADA down at the lower levels. And right now we are going to get into where exactly I would start loading up on ADA. So if you just take a look at Market Cipher right now, it seems that we have formed a top. And not only this, but Bitcoin is at resistance as well. And at the moment Bitcoin is sort of dragging the market down with it, which is why you're seeing altcoins sort of bleed right now. But I do still highly believe that this month is going to be a bullish month for altcoins, because if I just bring your attention to the crypto total market cap, you can see that basically for the entirety of 2021— you can look here at the beginning of January until the second week of January— we went up by 58%. Over here Beginning of February until mid-February, we basically go up by about 50%. Now, the point that I'm trying to make with showing you this chart is that usually on the start of every single month, basically from January until May, we have seen the crypto total market cap basically just pump. So based on this historical indication, we could perhaps expect the crypto markets to go for another pump during the first 2 weeks of June. But of course, there is no guarantee that history is going to repeat itself, and market conditions are always changing. Whilst this might give us some historical confirmation, nothing is confirmed until it is confirmed, especially because if we just look at Market Cipher right now, you can see that ever since January until right now at June, you can see that the money flow has been slowly but surely leaving the crypto markets. Now, is this anything to panic over? I don't think so, but I just wanna put that possibility out there that perhaps June could be different. Compared to the rest of 2021. But at the moment, I am still highly bullish on altcoins, especially if Bitcoin just starts ranging and does nothing. Then altcoins are gonna absolutely take off. But I just want you to keep in mind that it is still too early to tell. It is only the beginning of June, and I will be making more updates in the future regarding this. But at the moment, I just want you to keep in mind that there could be possibility towards Dan's Art simply because You know, Market Cipher doesn't lie. Money flow has been going into the red. But if there is one saving grace for all of us, and that is the fact that momentum seems to be shifting up at the moment. So let us take a look at what these next 2 weeks is going to bring for us. And hopefully we will see a break above this $1.84 trillion market cap level, which is at the level of this 50-day exponential moving average. Basically, if we can break above the 1.75 level and the 1.84 level, it should be a pretty good sign for crypto in general. But if we fail to do that and we break below this purple line right here, which is a 200-day EMA, I am going to make an update on that and we will play the markets accordingly. But back to ADA. So we got a little bit sidetracked by going onto the crypto total cap. So right now, let us continue on ADA. So right now we have broken below this ascending wedge right here, and they usually break towards the downside. So right now we are going to sort of front run the markets a little bit, and we are going to want to look for ADA to hold all of these levels right here, basically from 1.63 until 1.585 until 1.595. And basically the reason why I say that ADA needs to hold all of these levels is because literally every single major moving average is clustered around this area right now. The orange is 100, 21 is the yellow, the 50 is the gray, and the 200 is the purple. Basically, all of these levels are going to serve as really strong support for Cardano should it fall down to those levels. And if it doesn't, you are going to see some downside for Cardano in the near future. So if you're wanting to get into ADA, I would say that this is a good First level for you to start dollar cost averaging in because simply simply because all of these major moving averages are around that area. But should ADA not hold these levels, you are going to see some downside for ADA 100%. So in that case, what would be the next move for ADA? So right off the bat, I can see that we are forming sort of this ascending triangle right now or even a wedge formation. If you wanna call it that. Basically, if we just draw this trend line from here to here, and this trend line from here to here, you can see that we have 1, 2, 3, 4, 5 touches on this wedge formation, which means that ADA is still consolidating right now for either a breakout towards the upside or towards the downside. But here is what I want you to keep in mind. At the moment, this wedge pattern right here is— could in fact be called as a bearish pennant. And usually, if you know anything about pennants and technical patterns, pennants tend to be continuation patterns, which means that it tends to go in the direction where it was coming before. So for a bull pennant, it tends to break towards the upside, and for a bear pennant, it tends to go down. But at the moment, just based off of everything that I've said, although it might sound confusing, I actually don't believe that Cardano is gonna break down this bear pennant. But Even if it does, we are going to be prepared because I'm gonna give you the exact levels where I'm gonna look to stock up on Cardano before we go on an absolute moon mission for a 5x to 10x gain. So back to the topic. So right now we are forming this pennant right now. At the moment, this is going to be your first level of major support. I want you to just mark these 2 levels down on your own chart. Now let us identify further levels of really strong support. And in order to do that, we are going to need to bring up the VPVR indicator, where basically it just shows you how much support is at any of these given levels, just shown by the amount of orders that are around that area. So for example, at this level right here at 1.21, you are going to be able to expect a lot of support for Cardano simply because that most people might be looking to place orders at around this level. But I wouldn't actually wait until it hits 1.21 because at this 1.25 level right here, you can see that it is a previous level of major resistance and support. So 1.25 is definitely going to be a good level to start getting Cardano because right below it you can see that there is a lot of volume support. But if we do fall below that level right there, you are going to be looking for 1.14 to be the next level of support because again, it is an area of previous resistance and support. So these 2 levels are going to be very, very strong levels for Cardano. And not only that, you are going to want to look to stock up on Cardano, like absolutely stock up on Cardano should it fall back to the $1 level, or more precisely, the $1.01 level, simply because that if you just take a look at this purple line right here, This is a 200-day exponential moving average, and if you have been a longtime follower of this channel, you know that I always like to say that this level is a very strong dynamic support and resistance for any trend. So I do not expect Cardano to fall below the 200-day EMA given how many people believe in it and given how bullish it is looking. But of course, these 3 levels are sort of the last resort levels. I do not actually expect Cardano to go that low. Unless some catastrophic event happens, and if that does happen, I will be on YouTube to update you guys. So the more reasonable levels for us to stock up on Cardano would actually be at the 1.53 level and the 1.37 level, simply because that firstly, the 1.53 is really strong support and resistance, as you can see from the past. And if we do break below that, I really expect the 1.36 level to hold simply because again, it's strong resistance and it's strong support. So these will be the 5 levels that I will be looking to get Cardano at. If you want the best levels, like absolutely the best levels, these 5 levels along with this dollar cost average range at about $1.63 to about $1.59 or $1.60, that is going to be your first level. $1.53 is going to be your second, and the list goes on. So how would I actually use these levels to trade Cardano? So basically, let's say if you had $1,000 to play with, I wouldn't enter all $1,000 at the $1.60 level. What I would do is perhaps I would put in 15% here, another 25% here, maybe half here, and the rest down here. So this is what you call dollar-cost averaging, and it's basically what every smart trader does. Basically, nobody knows where exactly is the bottom. So what you do is the lower the price goes down, the more you buy, which means that your average position is gonna go down along with the price. So by the time that we reach the bottom, let's say that would be 1.3, your position might be at 1.4. So by the time the price recovers from 1.3 all the way back up to the previous all-time high, you would have doubled your money. And that is the beauty of dollar cost averaging, simply because nobody knows exactly where is the bottom. But if you want to have a very good chance of catching the exact bottoms, I am known as the sniper in our private Discord group, and there is good reason why. It's because I am sniping the absolute bottoms. Cake went down to 9.4, I called Cake at 9.5. YFI, it went down to 25K, I called it at 25.5K. Basically, we doubled our money during the last dip. And if you want to gain access to these kinds of sniper entry calls, I want you to go down into the description and sign up for the private Discord group. Not only are we catching bottoms left and right, we are absolutely killing the markets every single day. You are also going to get access to a world-class trading education where people who have literally been doing trading for years have found value in those videos simply because they think that those were the most in-depth videos that they have ever come across. So if you're interested, I want you to sign up for the private Discord group right now because Spots are limited, and once they fill up, I am not opening them in the near future. So those are the support levels that I would look to get Cardano at. But what if it breaks towards the upside? Again, I would look for Cardano to break out of this trend line right here, because once we do break the $1.78 level, we are going to absolutely pump. And these are going to be your profit-taking targets, like right on these charts. So I've given you the exact levels where I would look to get Cardano at, and If you cannot even be bothered to mark down these levels on your own chart, there is nothing more that I can do to help you. And if you really appreciate me giving you these kinds of exact limit entries, I'm gonna want you to join the Discord group where basically all you need to do is take my exact entries. I'm giving you entries down to the number, down to the cent. I'm giving you stop losses. All you have to do is take those trades and it's automatic money. You are literally going to make back your money in just a couple of trades. So sign up now before spots fill up. And I just wanted to know, if you have watched until this video so far, you are 100% ahead of 99% of other people because I know for a fact that not everybody watches till this point. So if you are still here until this point, I want you to comment down in the comment section the word legendary because honestly, if you can keep up this dedication in watching these videos to the end, it is only a matter of time until you make absolutely legendary gains. So give yourself a pat on the back for watching until this point. And right now you have had an in-depth understanding of what to expect from Cardano ADA. And with that said, my friend, may the gains be with you and peace.