CARDANO PUMP NOT OVER ETHEREUM HOLDERS TAKING PROFITS TO ADA
Daily Crypto, Stock, & Forex Signals!
My Interview w/ Founder Of Cardano & Ethereum!
https://youtu.be/j-xhUSTDVxE (Charles Hoskinson Interview)
03:33 bitcoin analysis
05:30 ethereum update
07:25 cardano prediction
12:30 traditional markets
Snipers, you have to see what’s happening
to the Cryptocurrency market this
Wednesday as Bitcoin is still moving
sideways between forty four thousand eight
hundred with the range that could take us
to forty nine thousand
seven hundred today.
I want to take a different approach
to our video by popular demand.
I want to talk about Cardano and other
Altcoins today because notice how this
Cardano to Ethereum chart,
which shows us the Ethereum transfers
that are going into Cardano,
which basically means people are taking
profits from Ethereum,
moving it to Cardano,
testing this 200 day moving average where
we have confluence with the one
hundred and fifty day moving average.
If we break out of this or are we going
to be seeing Ethereum profits transition
into Cardano to allow the Cardano price
to break this one point eight three three
resistance that could take a straight
to two dollars and 47 cents if
we look at percentage wise.
Notice how this would be a thirty five
percent move to the upside and then we
could potentially even see new
all time highs for Cardano.
This is not going to be a surprise
for those that have been on our Discord.
You know, we’ve been sending tons
of Altcoin signals with Altcoins like
AFSC new all time highs for this year.
This is a very different
market than 2017 and 18.
This is a very different market than 2019
2020 Altcoins season is still intact if we
see this move or we also going to see
the total Cryptocurrency market cap chart
break above two point two five nine
trillion dollars without Bitcoin seeing
new all time highs and Altcoins seeing the
benefits of institutional capital hedging
away from just Bitcoin
in the Cryptocurrency market.
This is all on the table.
If that was confusing, don’t worry.
We’re going to dove really deep into this
today and not only look at Altcoins,
but the revolving parts
of the Cryptocurrency market,
like others, dominants Bitcoin dominance.
And then we have to look at traditional
markets because the environment outside
of the Cryptocurrency market does affect
Bitcoin, which affects the overall
And then, of course,
we will talk about Ethereum.
But Cardano is going to have
the spotlight today by popular demand.
Charles Hoskinson, one of my good friends,
if you haven’t watched my interview
with him, Link isn’t a description below.
He is an amazing person and I’ve had the
pleasure to spend a lot of time with him.
And he is an awesome person,
is all I can say.
You guys are watching the Snipers channel.
My name is Naeem Alobaidi on a Wednesday.
Remember to smash the like one
for the YouTube algorithm.
If you guys want to see more
Altcoins on this channel.
First, let’s talk about Bitcoin.
It’s the major player.
It moves the market.
This is going to affect Cardano
so far on the weekly chart,
Bitcoin is holding the twenty week moving
average, which is at forty three
thousand four hundred U.S. dollars.
The fact of the matter is this.
This is a very simple,
clear path for Bitcoin and we’re not going
to spend too much time on it because
a lot of you guys have seen it already.
But here’s the point.
The best case scenario right now is
that we hold forty four
thousand eight hundred.
We continue up to forty nine thousand
seven hundred, and then we see a garden
variety retest of the forty four thousand
eight hundred dollars level where
we have the 200 day moving average.
And this would mean that we would stay
above the twenty week moving average
to then get a confirmation that this is
a reversal in trend and not
just a relief rally.
Now, remember, this is what’s going
to give us this confirmation.
If we see any price action towards forty
one thousand nine hundred and fifty at any
point in time, it could be after we test
forty nine thousand seven hundred or it
could be before we get to forty
nine thousand seven hundred.
We need to hold this forty one thousand
nine hundred fifty dollars level because
the monthly open is
sitting just below that.
And if we break below forty one thousand
nine hundred and fifty,
the bullish case for Altcoins and
may not be on the table just yet because
then we’d have to go and monitor Bitcoin
dominants, see how the overall market’s
going to react to Bitcoin,
breaking down from forty one
thousand nine hundred fifty.
And there’s a whole process to this.
But for those added
to the Snipers Cardano,
I’m going to keep it simple for you
guys as you guys watch our next videos.
Of course, I’ll monitor this for you.
But if we break forty one thousand nine
hundred and fifty, the point is that could
potentially lead us to see new lows
for the year at some point in Q4,
potentially maybe around
the October to December time frame.
And this would validate a C wave from this
corrective pattern that we saw with
Bitcoin coming down to thirty thousand.
That would just be a C,
but this could be invalidated if this
scenario happens, which is what we want
to see, a test of forty nine thousand
seven hundred that brings us up to test
forty four thousand eight hundred as
a garden variety retest to then
confirm this is now a support
level and not a resistance.
And that could lead to new all time highs
towards Q4 instead of us coming back down.
So I think that that’s pretty.
You guys are watching tons of YouTube,
as I bet, and we all know,
the game plan for those have been turned
into Snipers channel,
you’ve probably had the best technical
analysis just because we’ve been very
accurate for the specific consolidation.
It’s not always like that, but we’ve
been very good on this one specifically.
So, you know, kudos to those that are
in the Discord that helped me a lot
by posting your charts and allows me
to get different perspectives and really
be more dynamic and like Bruce Lee.
Be like water.
So I want to talk about a theory.
This could be a leading indicator
for Altcoins, because this is why we’re
now seeing this potential
run up for Cardano.
So Ethereum went first.
Like I always tell you guys,
it’s the largest liquid.
So it’s a leading indicator.
And the reason it was a leading indicators
was it stayed above sixty five thousand
satoshi as long as we stay above
sixty five thousand Satoshi.
In my opinion, this is a confirmation
that Altcoins season is still intact.
We break sixty five thousand
satoshi that changes.
Now, what is this creating in the market?
Will the melting pot is favoring Altcoins
right now because look at the total
Cryptocurrency market cap above
all daily moving averages.
If that’s not bullish,
look at the weekly chart
above the weekly home base.
That’s the twenty period.
This is extremely bullish for the total
market cap chart, indicating we could be
seeing potentially new
all time highs here soon.
Does that mean Bitcoin’s not
going to see an all time high?
But what I am saying is Bitcoin dominance
stays below the twenty
week moving average.
The likelihood of Altcoins seeing new all
time highs like access to USD
becomes more likely before Bitcoin
is going to see a new all time high.
So it’s just a seasonal thing.
So we will monitor this.
If this breaks and changes,
then the storyline could shift.
But this is allowing others dominance now
to really start to move up towards
the twenty week moving average.
We are above the 200 day moving average,
picture than what’s happening to Bitcoin
Altcoins are in favor.
And so now we want to look at where
is institutional capital flowing.
If you guys watch the Charles Hoskinson
the lead ETH K was also on that call
with me and he talked about institutions
diversifying away from Bitcoin.
This was an interview
from December of twenty twenty.
He said institutions in twenty twenty one
are going to diversify outside of Bitcoin
to not put all their eggs in one basket.
And guess what?
A lot of people earn profits for Ethereum.
So the question is,
is Ethereum going to see downside or are
we just going to see a Ethereum kind
of float while other Altcoins
now get their chance to rally?
Well, I think Cardano next look at this.
We stayed below this 200 period moving
average on the daily chart for this
Cardano to Ethereum chart.
And now we’re starting to see a pump
above the monthly and weekly open.
If we break this level, guess what?
It shows confluence.
And this is telling us Ethereum
is moving into Cardano.
It shows confidence it could allow
the Cardano price to break one point eight
three three to take a straight to two
point forty seven,
potentially new all time highs.
Thirty five percent upside.
They’re so interesting.
And then, of course,
there are many other Altcoins
that are moving like axi infinity.
What is Acción funny.
What is a.
Well, let’s look at the Ethereum burn
analytics and on change metrics,
this is the platforms that are burning
the most amount of Ethereum right now.
And look at axi infinity.
Six hundred eighty five Ethereum has been
burned since i.p fifteen fifty nine was
implemented into the Ethereum network.
Of course tethered unit swap open C
which is for NFTE,
are burning a lot of Ethereum as well,
but axes a play to earn
game primarily in the Philippines is where
we’re seeing a lot of USAjobs and I think
almost, you know, what is
a million active users.
So basically you play
a game and you earn Crypto.
That’s what actually is it’s actually
creating this new I would say, you know,
this new revolution
and DFI called a game PHY.
And so expect to see more of these
game you coins and games pop up.
You know, and I think that’s a very
interesting field because one
of my buddies actually owns
a company called XP Reality.
And I was in a meeting with him.
And it was interesting how he founded this
they also have a subsidiary called
Verbals, which is a virtual reality
platform for their real estate agents
because he had a game
And to me was so interesting when he told
me the story, because it’s really hard
to get good game developers,
and especially if you incorporate
that with a very,
you know, profitable or lucrative industry
like real estate, for example, you know,
E.S.P Realty is now valued at.
Over unicorn status, of course,
over a billion,
and so, you know, I think that now that we
see the success of NFTE and decentralized
finance, we’re going to see more game
developers and talented people from all
over the world want to, you know, help,
you know, their country because this
is helping people in the Philippines.
People are like buying houses in the
Philippines just through axi infinity.
And so that’s why we’re
seeing new all time highs.
You remember guys on the Snipers.
I always told you,
as long as you stick to the fundamentally
sound projects, you’ll be fine.
And if you listen to that advice
and you stuck to the fundamentally sound
projects, Ethereum always being the most
fundamentally sound on this channel.
I’ve been talking about it for months and
months and months since December of 2012.
We said there’s going to be a potential,
not a flip, but a lot more strength
for Ethereum than Bitcoin of flip is
kind of what I was talking about.
But I didn’t want to say flip because I
don’t expect that at least at this point.
We need a little bit more confirmation for
something, you know, opinion like that.
But, you know, you stuck to these Altcoins
look at Cardano almost at these
levels that we didn’t see,
you know, since Bitcoin was at sixty five
thousand dollars, sixty
four thousand dollars.
And so if you didn’t stick
to the fundamentally sound coins
and maybe, you know, you stuck to like,
let’s say XP, you’re not seeing as much,
gains, I guess you could say at least back
to the highs that we were previously.
So, you know,
you stick to the fundamentally
sound projects that have used case.
I think you’ll be fine.
BnB has tons of use case.
And I think that a lot of people are not
as impressed by IP 1059 with the fees
are still kind of high.
And so they’re actually you know,
we’re seeing more user adoption
with finance smart now.
So, you know, BMB looks
kind of undervalued.
We’ll be watching this, of course,
all for you in the Discord.
You know, it’s been,
you know, I think a few weeks that we
haven’t taken any decisive long positions
in Ethereum and Bitcoin
because we did get our positions here
in Bitcoin was at thirty one thousand.
We got Ethereum positions
on Bitcoin made this
higher low and Ethereum
went to seventeen sixty.
So I’m waiting for this move to kind
of cool down so we can get
the pullback at some point.
Preferably we get that pullback at forty
nine thousand seven hundred to forty
four thousand eight hundred.
I think that would be a good confirmation
that this could really move to the upside.
And with that, I appreciate each and every
one of you Snipers I didn’t even
get to cover traditional markets.
So I guess we’re going to elongate this
and keep going.
The DXY here.
Let’s talk about this.
So we are moving up.
We’re not moving up decisively.
We haven’t broken these candle highs.
We may have tested it.
Or maybe we have a candle have exactly
what this candle was,
but we haven’t yet broken it, you know.
So if we stay down here,
this is the preferred scenario.
We move up.
We really want to watch what’s happening
to the S&P 500 because this is the only
market that’s yet to react to this move.
For the DXY, it’s still showing strength.
However, commodities like U.S. oil
have reacted to that already.
And Gold specifically,
you can see it is actually kind of brutal
here with Gold, but that’s totally fine.
I mean, it Gold has been
maintaining itself quite a bit.
So I think that we do want to monitor this
DXY pushing up to ninety
three point eighty two.
This is a puzzle piece on the table.
But with Bitcoin in such a very clear area
that, you know, we know forty four
thousand eight hundred is important.
We know forty nine thousand seven hundred
is the preferred place
that we need to get to.
And we also know forty one thousand nine
hundred fifty is a make it or break it.
I’m not too worried about the outside
markets just yet because I think
that watching Bitcoin right now,
we’re going to get a really good idea
of how to play the next few weeks once we
get confirmation of where
the trend is going.
With that, thank you all
for tuning into the channel today.
I want to give away principles by Radio,
one of my favorite books on value
investing to one of you watching.
All comments are eligible for this.
And let’s go ahead and pick
a winner from our commentary.
Chucky’s This Trap.
Send me a message on Instagram.
You want a book?
And with that, I appreciate each and every
one of you tuned into the Snipers channel.
I hope you enjoyed today’s
analysis until next time.