Cardano BREAKS Resistance (Levels I'm Watching)

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>> Hey folks, Nick Valdez here, chief
crypto strategist for Verified
Investing. And welcome to Crypto
Revealed, where we're going to look at
Cardano in a massive breakout, where one
of my favorite altcoins, at least when
it comes to community, maybe not so much
the price action, is starting to look
very bullish. Of course, we're going to
look at Bitcoin, is it still trading
within its parallel channel? And we're
going to break down one of the top
moving DeFi coins, one of the coins that
you called for in the comments, and that
is Ondo Finance. I used to have a long
history with Ondo. Co-worker of mine, he
loved that token, but I always told him,
"Hey man, don't date it. You just need
to trade it." And me, I never did hate
it, but go ahead and smash that like
button, folks, as we jump back in. Sorry
we didn't do a show yesterday, I had a
little bit of a emergency back home I
had to take care of, but we are back in
the charts, back in the saddle again.
And now, let's look at Bitcoin in this
parallel channel, and what do you know,
it is beating against this channel right
as we speak. This is the channel that
was established from the wick low here
and the wick high here, that then gave
us our two different parallel trend
lines, where what do you know, we had a
nice bounce and a nice bounce, and then
a nice rejection. But let's zoom into
the 4-hour
look at the price action right at this
parallel channel. I can't make this
stuff up, but it does look like Bitcoin
is trying to break out as we speak, and
it looks like it did a little bit of a
false breakout, and now starting to
shoot back in. And we go to the 4-hour
candles, getting pretty close to closing
this daily candle, 2 and 1/2 hours away.
So, Bitcoin starting to look a little
bit bullish, folks, even though we
aren't seeing the best odds on the
Clarity Act, and I know Polymarket may
have low volume, but it is now down to
25%. Now, if we do reject, of course, we
have this little bit of a support line,
this little bit of a support structure,
but I'm more so watching this ascending
trend line that we tagged right here,
tagged it right here, tagged it right
here, and if we keep extending it,
Bitcoin is going to run out of space,
it's going to meet need to make a major
move. And don't worry, we are going to
look at the Cardano chart in a second,
but first, let's look at some of the
other altcoins. Now, Ethereum, what is
it? It is a major altcoin, the number
two altcoin, or actually the number one
altcoin, the number two token, only
after Bitcoin, and it's the largest
layer one blockchain. Talked about what
is a layer one, you know, it's just a an
enclosed ecosystem, but right now,
Ethereum hitting against resistance.
However, we are holding strong to this
ascending trend line that we pointed
out. And remember, I said, "Look, folks,
we got a little bit of a rising wedge.
Doesn't always break bearish, but you
know, slight, and I mean slight
probabilities do favor a bearish
downside target or a bearish break
through. And if we start hitting some
confluence, like if we start channeling
up, and we're hitting this $2,000 range,
which is a strong level of resistance,
cuz you can see right here, it was
strong support, that's where we can
start saying we have higher
probabilities for a breakdown, but right
now, still a little bit early to tell.
Let's jump over to XRP.
XRP. Now, if you watch our Pro Traders
channel, uh me and Jake were talking
about this, so he may have mentioned it
as well. XRP put in a bottoming tail.
Now, typically, you do want to see a
bottoming tail at the bottom of a
long-term trend,
and that's exactly what we had right
here. But then it started to chop
around, and now we have another, I would
say cleaner, bottoming tail with this
candle right here. The bottoming tail is
just a good reversal target, and a
topping tail is a good reversal target
to the upside, meaning things might
start breaking to the downside. See if
we had one. That's close to one. The
definition of a bottoming tail or a
topping tail would be the candle body in
the bottom or top 25%
of the candle. And you can see right
here, the candle body definitely in the
top 25%, meaning that wick needs to be
at least 75% of the structure. And this
is definitely over 75% of the structure.
And we bounced off this support.
This was resistance on June 15th, pushed
down the price, and now starting to get
a nice little push to the upside. I
would look for some profit on XRP on
this descending trendline that the price
has just really struggled to beat
against. And you see, except for this
little bit of a breakout right here,
it's just been capping price to the
upside. Right now, trading around 114 if
it hits this, but this candle or this
trendline is going lower and lower. Uh
you'll see, eventually you'll hit 113,
eventually you'll hit 112 and some
change. So, keep an eye out on this
descending trendline here cuz that is
going to be the resistance for XRP.
Solana, nothing really too crazy with
Solana, you know, we're still just in
the channel, still, you know, maybe
potentially going to respect this
ascending trendline. It was support,
it's now flipped to resistance, but I
want to show you the monthly candles.
The monthly candles can give you just a
good analysis of a long-term trend. I
was not expecting this with Solana's
monthly candle. I don't think anybody
would have predicted this if you would
have asked them 10 months ago. Not to
bury the lead there, but folks, we have
a lot of red candles on the monthly, but
right now the monthly candle is trying
to flip green. Look at this. 1 2 3 4 5 6
7 8 9 red monthly candles in a row.
Solana has never seen nine in a row. In
fact, I don't think it's seen more than
three in a row. That's how crazy bearish
this is. Uh this is two, there you have
three, there you have three, you have
two and two. After that, it's two, you
don't have any streak of red monthly
candles except for what we've seen right
here. So, to me this is just a a strong
signal for Solana.
Now, if you would have said
Solana is a dead chain, well, sure, if
it was, maybe that wouldn't mean too
much, but Solana is far from dead.
There's still a lot of trading activity.
There's still a lot of stable coin
volume on that. A stable coin, of
course, is would be the main ones Tether
and USDC. These are just coins pegged to
a dollar. You see a lot of financial
actions, you know, happen with stable
coins. A lot of people pay their
employees in stable coins. A lot of
people just do a lot of swaps with
stable coins with their banks. Visa, you
know, they MasterCard, they have little
deals where you can kind of use an app
and, you know, shop and it takes from a
stable coin balance, but Solana, that
monthly candle streak, if it doesn't
break, folks, that's I mean, this is
just very, very bearish. If I was just
to measure this
uh from the let's just even do it from
that peak.
Yeah, Solana down 69%. I didn't try to
make that number up. I didn't know ahead
of time. Uh let's talk about Ondo here.
I want to answer what the heck is it?
What is it? A lot of people, you know,
I'm just throwing out altcoin after
altcoin after altcoin at you. It it's
too much. It's like you're getting
pelted with snowballs over here.
Yellow ones. Uh I'm talking about the
text here. The text is yellow.
Ondo is a tokenization platform for
traditional financial assets. That
sounds very boring. What's a fancier way
of saying that? Think of a traditional
financial asset like a 10-year bond. Put
a 10-year bond on the blockchain and
then you could trade it 24/7. And so,
that's going to be advantageous for Wall
Street. They don't want to be stuck in a
bond while something happens with the
South Korean stock market or something
happens with the Chinese stock market.
And so, this enables 24/7 trading, which
is kind of what we're seeing with hyper
liquid. And so this is
a very interesting project. It was
founded by former Goldman Sachs
executives. And we just got a rumor
today. Today, there's acquisition rumors
that they are looking to purchase a
company. Perhaps it could be a a payment
merchant, perhaps it could be a small
bank. Right now it's just in the rumor
stage. They're looking to spend 250 to
500 million dollars. Now, on one hand
that's bullish because all right, you
know, it's kind of good when a company
acquires another company. Google
acquired YouTube 20 years ago. Look how
well that turned out for them. But also,
something like Ondo, they may pay for
this in Ondo tokens. And so I would want
to see
more details including a major major
lockup. And so if they have a major
lockup, you know, the meaning the
company that was acquired, say they're
paid 500 million in Ondo tokens, I don't
want them to be able to immediately sell
those Ondo tokens. And so if they're
required to hold them for 4 years, 6
years, 2 years, you know, that would be
a little bit more bullish. Let's
continue our DeFi deep dive. And let's
look at Chainlink everybody. Chainlink
hit this resistance right here. This
would be the next target if we can break
this former support that is now turning
into resistance. I gave you this
trendline a couple episodes ago or a
couple days ago. I forgot we didn't do
one yesterday. And so maybe maybe this
is going to continue to hold, but if we
break through, I mean I'm sorry, if this
continues to hold and we keep knocking
on this door of this former support now
resistance, that's when we can start
talking about close to a $9 Chainlink.
And let me know if you're a Link Marine.
Someone in the comments the other day
said, "Let me get a hoorah." Hoorah for
you Link Marines out there. Or maybe if
you work on fences, chainlink fences,
We're going to count you in the
community. Maybe you might want to buy
some chain link.
And folks, I see your comments there. Do
appreciate your comments here. Eigen,
someone wants me to look at Eigen layer.
Maybe I can look at that in them
>> [laughter]
>> uh in the next episode. Someone's
talking about they're on the the DC chat
there. Uh may have been crickets. May
have been crickets on there. So, hey, if
you made a post on there, I'm I'm not
going to be mad at you. Uh someone's
asking about the XRP inflow. I'll tell
you what, next episode I will pull up
the ETF data. I'll give you the
screenshots and we can see what kind of
inflows are we seeing on XRP. Uh now I
do appreciate it. Solana seeker user,
all right, Solana. That's right, they
have their own phone. And so, that's
just an interesting one there. Uh let's
continue our DeFi deep dive and look at
one of the major gainers and that is
Uniswap.
There's an argument for a out of whack
inverse head and shoulders, a very large
shoulder, a Quasimodo shoulder, if you
will. And then we have our I don't I
don't want to be offensive, maybe a
conjoined twin head there. Hopefully
that's not offensive. I don't mean it
that way. And then a very small shoulder
right here. This is a This is a large
shoulder. That is a Michael Jackson
Thriller shoulder, you know, I mean that
that's a large one on the one side, but
we do have a target
if this were to play out. The way you
measure a a head and shoulders is you go
from the neckline to the crown of the
head and that's a pretty bullish target,
folks, but I have a more immediate
target that I would be looking at for
Uniswap. Uh Uniswap, man, this was the
critic This was the darling of DeFi, but
now there's just a lot of competition.
And what is DeFi? This is a
decentralized exchange. Mostly it's for
Ethereum. If you go swap into an
altcoin, a lot most of the time if
you're a degen, you're using Uniswap.
So, you trade your Ethereum for an
altcoin on the Ethereum blockchain.
Remember, I said Ethereum is a layer
one, so that layer one hosts
technically millions of altcoins, but
you know, a couple hundred solid
projects. So, if you want to buy
something, even Chainlink, you might buy
Chainlink on the Ethereum blockchain via
Uniswap, if you're not using a
centralized exchange. And a centralized
exchange would be something like a
Robinhood, like a PayPal, like a
Coinbase, like a Binance, Binance US.
Let's go back to the Uniswap charts, and
then I'm going to show you that Cardano
chart, folks.
I got in some Cardano I got in a Cardano
trade.
It's the hairiest trade I've had since
working here, folks. I'm I'm going to
show you every single entry and where I
closed. I'm going to I'm going to just
reveal everything, cuz I am trying to
get a lot of trades, and we we have uh,
you know, some potential, let's just
say, partners for this show coming up,
and so, you know, just getting my sea
legs on the trading, but Uniswap, I'm
looking at this as a resistance line.
It's going to be right below $5, about
4.86. Uh, looking here, I I think it's
too late to chase. I wouldn't chase this
one. This is uh, up uh, 8 and 1/2%
There's no guarantee we're not going to
come down and retest this trend line.
That's a risk reward That's a two-to-one
risk reward. You want like a one-to-
two, really, that's even kind of
sketchy. You want like a one-to-three,
one-to-four risk reward ratio. And so,
this is just the wrong type of ratio if
you're looking at risk to reward, but
boom, we had a nice little pivot top
here, and what do you know, that was
also acting as support. And this is a
straight horizontal line. Oh, what do
you know, it's also acting as support.
Let's keep going. What do you know, it
was also acting as support. What do you
know, it just keeps on happening, folks.
And yeah, then we have one more retest
there. I think that's about it. Yeah.
Oh, okay, yeah, one more here.
And now we're going way back. Now we're
like 2023. Actually, there's there's
more touches than I was initially
thinking here, uh, when I was charting
it earlier today. Not I wouldn't look
too much activity here back in the first
run-up in 2021, but if you just look
recently, this has just been a strong
level, this uh, 4.86,
4.86 and 1/2 cents there. And so, if
you're in a Uniswap trade and you're,
you know, you're flying high, that's
definitely the area I would be looking
to take a little bit of uh
uh profit right there, folks. All right,
let's go over to Cardano and I'll show
you this trade. I'm going to shrink it.
I'm going to shrink it. Let's do the TA
first and then I'll show you the trade,
the details there. Talked about this
resistance line. I said, "Man, just look
how long." Remember, it was 15 days it
beat against this. And then we had a
clean rejection right there at that same
resistance line. We had another clean
rejection right there. And this is kind
of goes to that bouncy ball strategy
that we talk about, you know.
You bounce a ball, you got a big bounce,
you know, you drop it from your roof.
And then the next bounce, guess what?
Well, you know, it's physics. It it
absorbs some force and then you get a
smaller bounce.
And then we got a even smaller bounce
and then the smaller That's when you can
start talking about a potential
breakthrough and that's exactly what
we're seeing right here on Cardano.
Where am I looking for, you know, some
decent profit? Well, one,
we're kind of pretty close already.
Looks like there's a potential that
we're going to reject at that local
high.
You can see it right there. I mean, look
look right there. Boom. We did wick a
little bit higher previously, but, you
know, it it could it could be over
already, the the pump, but I like this
19 cent level. Really close to the 20
cent psychological level. Maybe get
everybody bullish, get like one little
wick right there as people try to short
it and, you know, 20 cents strong strong
psychological level. And then we can
start talking about some of those higher
targets, the 25 cent, uh you know, this
pivot high that's close to 30 cents but
not quite. And then, you know, higher
and higher.
Folks, we're a long way away from
talking about a $3 Cardano. I'll post
on, you know, some some of my socials
there with some Cardano TA. Get the same
question all the time. When are we
getting a $3 Cardano? Well, folks, it
might be a while. But let's go ahead and
jump into the trade here.
Uh this I just want to give you this so
it could be the tip of the day here.
Folks, you got to practice safe risk
management. One of the things we talk
about Verified Investing, if you if
you're in the live day trading room,
they don't open a full position
immediately. They're not just full
porting a trade. They might start with
1/12, 1/10, or 1/8 of a position.
Meaning, you got a thousand bucks to
throw on this, maybe start with a
hundred dollars. Start very small. So,
let's look right here.
I was shorting Cardano because the
run-up was just too too juicy. It was
too high. And so, when you see S, that's
basically it's a it's a sell, but it's
me opening a short. And so, boom, I
opened my short. Guess what? It ran
against me. I did another 10%. I did
another 10%. I did another 10%. Then I'm
like, okay, okay, every time I'm doing
this, I'm moving my move my average up.
I thought, all right, I'm out of the
woods, baby. I'm out of the woods.
No, I was deeper in the woods. I was
getting dragged into the woods by a
villain.
Guess what though? I held strong. I held
onto my conviction of the trade. I had a
clear entry,
uh you know, I had a clear target.
And this was far from my target, you
know. And I'm seeing the liquidations. I
kept opening. I kept opening. I didn't
catch the exact top, but guess what? I
had another entry at 18 cents. I wasn't
done. I was going to continue to add to
that one. But then it turned into
profit. As soon as I got basically right
below break even, I closed half my
position. And guess what? I closed
another half shortly thereafter. Then I
had maneuverability, and then I closed
deep into profit. So, this adding to it
moved my average up. And so, every close
was in profit. And folks, uh hopefully
that just kind of helps you with your
mentality. Don't full port these trades.
Be a little bit careful out there. It
can get It can get a little hectic in
the crypto landscape, especially if
you're trading with leverage, but I
don't recommend you ever do that unless
you're a seasoned veteran, folks. Season
like that Tony Sacheries. But, I would
really appreciate it, folks, if you hit
the like button. Always like it when you
guys stick around till the end. See you
So, where are the altcoins moving to? Up
or down? Well,
Yes, the answer is yes to that. XLM,
don't worry, we'll look at um
the XLM chart. Did I
Hopefully I didn't skip over that. Yeah,
XLM, that resistance, boom, has flipped
into support and is at that pivot
support right there, but we do have
resistance. Right here is going to be
the pivot top. Uh came pretty low. Also
held support there. So, thanks for
throwing that out there. Actually almost
missed that one. But, folks, hit that
like button on the way out.
It's a real DC here. I'm not a fake one.
I'm not AI. Although sometimes I trade
crypto so much I feel like I'm in the
matrix. Smash that like button, folks.
We're here Monday through Friday, 1:30
p.m. Eastern Standard Time. Really do
appreciate you guys hanging out. I'll
see you folks in the future. Thank you.