Investment Disclaimer:
- I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only.
- Past performance presented here is not an indicator of future performance.
- This post expresses my own opinion about the cryptocurrency mentioned herein and is not an offer to buy or sell, or a solicitation of any offer to buy or sell the cryptocurrency mentioned in this post.
- I do hold a long position in ADA as a token holder.
1A. Top 3 Good News for ADA HODLERS !!!
- Samsung Will Utilize Cardano Blockchain To Manage The Planting Of Over 2 Million Trees In Madagascar
Statistic as of 2022-01-07 06:58 AM EDT: 82 positive votes, 7 negative votes
One of the largest electronics manufacturers globally, Samsung, will get exposure to Cardano following its latest partnership with blockchain-based climate solutions platform Veritree. This is according to the head of Brand and Communications at the Cardano Foundation, Sidney Vollmer.
(Extracted from Crypto Panic) - Charles Hoskinson Names Exciting 2022 Cardano Partnership to Build P2P Financial Operating System
Statistic as of 2022-01-07 06:58 AM EDT: 26 positive votes, 3 negative votes
(Extracted from Crypto Panic) - Airbnb Crypto Payment Plans — Odds-On Solana, Cardano, XRP, Shiba Inu Making The List
Statistic as of 2022-01-07 06:58 AM EDT: 17 positive votes, 0 negative vote
Co-founder and CEO of Airbnb, Brian Chesky, has confirmed that his company is already underway with plans to integrate crypto payments into its platform.
(Extracted from Crypto Panic)
1B. Top 3 Bad News for ADA HODLERS !!!
- Bear Market “Partially Confirmed” As Crypto Market Loses $300 Billion In First Week Of 2022
Statistic as of 2022-01-07 06:58 AM EDT: 1 positive vote, 7 negative votes
Crypto market bloodbath continues to intensify. Bitcoin and leading altcoins like Ether, BNB, Solana, Cardano are not spared. A select few crypto-assets remain promising in the near term. The ongoing cryptocurrency market crash has yet to subside as more and more cryptocurrencies continue to get liquidated.
(Extracted from Crypto Panic) - Cardano: Crypto Analyst Says $ADA Investors and Traders Should Be Careful
Statistic as of 2022-01-07 06:58 AM EDT: 8 positive votes, 11 negative votes
A popular crypto analyst and market strategist has issued a warning to followers about Cardano’s native token, saying that it is flashing signs indicating a fundamental weakness. Speaking in a recent YouTube video, the host of InvestAnswers told viewers that Cardano’s chart is giving off red flags.
(Extracted from Crypto Panic) - New Research Predicts Ripple’s XRP and Cardano Will Fall Out Of The Top 10 In 2022
Statistic as of 2022-01-07 06:58 AM EDT: 10 positive votes, 9 negative votes
Key Takeaways Arcane Research’s report predicts that XRP and Cardano (ADA) will fall out of the top ten crypto rankings. Meme coins will also become a thing of the past, according to the report.
(Extracted from Crypto Panic)
2. How Cardano Performs Relative to Other Cryptos ?
Performance of All Cryptos Under Quantdoge Watchlist in 2021 (Sorted by % Return)
ADA has undergone 580.67% return from USD 0.1821 to USD 1.2395 since 01 Jan 2021. ADA is the 13th best performing crypto assets among others here.
3. How Resilience Cardano Is Towards Bitcoin Crash Relative to Other Cryptos ?
Historically, all altcoins are somewhat dependent on Bitcoin price movement and it’s often the case where if Bitcoin falls, most altcoins would follow.
Top 3 Cryptos That Are Most Resilient To Bitcoin Crash During Each of BTC 4 Largest Crashes in 2021
ADA has proven resilience against BTC crash in 1 out of the 4 instances.
During the last 4 BTC market crashes,
When BTC dropped by -13.47 %, ADA returned -24.61 % at 20 May 2021,
When BTC dropped by -13.13 %, ADA returned -17.3 % at 22 January 2021,
When BTC dropped by -12.16 %, ADA returned -11.26 % at 13 May 2021,
When BTC dropped by -11.39 %, ADA returned -17.54 % at 22 June 2021
4. Technical Analysis on Cardano
4.1. Volume Weighted Average Price (VWAP)
VWAP is a technical indicator used by a trader to gauge the overall trend of an asset price movement. VWAP line (orange line) represents the volume-weighted average price (average price here is defined as the average of high, low and close prices) while close price line (blue line) represents the price when ADA is closed at the end of every single day.
Whenever blue line (close price) is above orange line (VWAP), it indicates that the asset is gaining momentum and being traded higher than its average price level. This would represent a 'buy' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'sell' opportunity, anticipating that the price of ADA (blue line) to fall to its average level (orange line).
Whenever blue line (close price) is below orange line (VWAP), it indicates that the asset is losing momentum and being traded lower than its average price level. This would represent a 'sell' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'buy' opportunity, anticipating that the price of ADA (blue line) to rise to its average level (orange line).
As of 06 Jan 2022, VWAP is suggesting that ADA is losing significant momentum as crypto market sell-off continues out of fear of FED accelerated tightening.
4.2. Moving Average Convergence Divergence (MACD)
MACD is often used by trader as a momentum indicator. There are 2 lines that form the above charts, namely MACD (12, 26) lines and Signal(9) line, while the histogram is calculated by subtracting Signal (9) from MACD (12,26). Histogram would fall to the negative territory whenever MACD (12, 26) is trending at a lower level than Signal (9) and rise to the positive territory whenever MACD (12,26) is trending at a higher level than Signal (9).
MACD (12, 26) is computed by subtracting the 26-day exponential moving average (EMA) of ADA closing price from its 12-day EMA.
Signal (9) on the other hand is calculated as the 9-day EMA of MACD (12,26).
As MACD (12, 26) goes higher away from Signal (9), it signifies that ADA is gaining momentum and whenever it goes trends at a lower level than Signal (9),it signifies that ADA is losing momentum.
As of 06 Jan 2022, MACD is suggesting that ADA is losing significant momentum as crypto market sell-off continues out of fear of FED accelerated tightening.
4.3. Bollinger Band
Bollinger band is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. Its chart made up of 4 lines, namely:
- SMA (20) (blue line), which is the 20-day simple moving average price of ADA
- Upper Band (orange line), which is computed by adding 2 standard deviations of ADA on SMA (20)
- Lower Band (red line) , which is computed by subtracting 2 standard deviations of ADA from SMA (20)
- Close (green line), which is the daily closing price of ADA
Whenever close line (green) touches the lower band (red), it indicates that ADA is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever close line (green) touches the upper band (orange), it indicates that ADA is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 06 Jan 2022, Bollinger Band is suggesting that ADA is being oversold.
4.4. Relative Strength Index (RSI)
Just like Bollinger Band, Relative Strength Index is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. There are 2 psychological levels, i.e. 30 and 70 in RSI. Whenever the RSI reaches 30, it indicates that ADA is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever RSI reaches 70, it indicates that ADA is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 06 Jan 2022, RSI is suggesting that ADA is being oversold at the 14-day performance window.
Based on the technical analysis presented above, quantdoge is neutral on the future of ADA, but I could be wrong, hence please make your careful due diligence before making any financial decision.
5. Cardano Risk Profile
Based on the 100-day 95% historical Value-at-Risk (VaR) profile of Cardano defined above, ADA seems to trade at a lower risk level on 06 Jan 2022 as compared to 10 days before on 27 Dec 2021, with its biggest pullback being seen at -11.14% on a single day during the last 100 days. However, I could be wrong, hence please make your careful due diligence before making any financial decision.
6. Price Simulation for Cardano
How did quantdoge simulation perform vs the actual ADA price movement over the last week ?
Over the last 7 days, ADA is trading near the median range of all quantdoge simulations, indicating that ADA is neither oversold nor overbought.
7. ADA Community Analytics
Number of ADA Followers In The Last 30 Days
In the last 30 days alone, Cardano followers have grown 4.23 % from 747,998 to 779,610 on Twitter and grown 1.5 % from 670,030 to 680,087 on Reddit.
Daily increment of Cardano Twitter followers peaked on 24 Dec 2021 and its daily increment of Reddit followers peaked on 12 Dec 2021.
8. Google Trends Analytics
cardano reached its peak in Google Search on 2021-05-09 with a Google Score of 100
Over the last quarter, cardano Google Score has decreased 38.46 % from 32.5 to 20.0
Over the last 6 months, cardano Google Score has decreased 64.79 % from 56.8 to 20.0
Over the last month, cardano is most saught after on Google from Liechtenstein, followed by Andorra and Netherlands.
9. Developer Activity Analytics
Fork
Fork refers to the amount of time where the Github repo of current cryptocurrency is being copied. Higher fork number could mean that this cryptocurrency project is getting more interest in the developers community who likes to explore more on the deep technical of this project.
Cardano forks increased 6.37% from 581 to 618 in the past year.
Star
Star refers to the number of developers who bookmark the Github repo of current cryptocurrency. Higher star number could mean that this cryptocurrency project is getting more general interest in the developers community.
Cardano stars increased 8.95% from 3,431 to 3,738 in the past year.
Pull Request
Pull request contributor refers to developer who has made a successful improvements/ modifications on the Github repo of this current cryptocurrency project. Higher number of pull request contributors could mean that there is a high number of commitment given by developers to this cryptocurrency project.
However, a low number also could mean that the developer community of this project applies a strict standard when it comes to code review, so only developers who have published a high quality code with highly impactful features got approved.
Cardano's number of pull request contributors remained stagnant at 80.0 in the past year.
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