Cardano in trouble! ADA price analysis October 23 | NakedTrader

Cardano in trouble! ADA price analysis October 23

Link to analysis of August 15th: https://www.youtube.com/watch?v=Vm89QtR0b4U

Is the price of Cardano in trouble and will there be another major drop to $0,16, lets find it out in today’s analysis.

Based on technical analysis I will chart Cardano / ADA $ crypto and find support and resistance levels. So lets start with today's chart!

Cardano: Cardano is a blockchain platform designed for the development of smart contracts and decentralized applications (DApps). It's known for its scientific and research-driven approach to blockchain technology.
Origin and Background:
* Cardano was conceptualized by Charles Hoskinson, one of the co-founders of Ethereum, and developed by a blockchain research company called IOHK (Input Output Hong Kong).
* The project was officially launched in 2017 with the goal of addressing some of the challenges faced by earlier blockchain platforms, such as scalability, sustainability, and interoperability.
Key Features and Innovations:
* Cardano is often associated with a rigorous academic and scientific approach to development. It's built on a foundation of peer-reviewed research and formal methods to ensure security and reliability.
* The platform uses a layered architecture that separates the settlement layer (where ADA, the native cryptocurrency, is transacted) from the computation layer (where smart contracts and DApps are executed).
* Cardano's consensus mechanism is known as Ouroboros, a proof-of-stake (PoS) protocol designed to be energy-efficient and secure.
* The platform places a strong emphasis on governance and aims to allow ADA holders to participate in decision-making through a treasury system and voting mechanisms.
ADA Cryptocurrency:
* ADA is the native cryptocurrency of the Cardano network. It's used for transactions, staking, and participating in the network's governance.
Smart Contracts and DApps:
* Cardano's development roadmap included the introduction of smart contract capabilities, allowing developers to create decentralized applications and automated contracts on the blockchain.
Ongoing Development:
* Cardano's development is divided into phases. By the time of my last update in September 2021, Cardano had completed the "Shelley" phase, which focused on decentralization and staking, and was progressing toward the "Goguen" phase, which aimed to bring smart contract functionality to the platform.

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Chapters

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00:00 ⏩ Intro
00:22 ⏩ Cardano in trouble! ADA price analysis October 23
04:46 ⏩ Thanks and Goodbye + Outro

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*Disclaimer*
Please be advised that the content of my videos are intended FOR EDUCATIONAL INFORMATION PURPOSES not financial advice. The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Purchasing cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results.

This information is what was found publicly on the internet. This is all my own opinion. All information is meant for public awareness and is public domain. Please take this information and do your own research.