URGENT: Cardano Crash Alert

**Nick Valdez** (0:00)
Cardano has fallen 50% in less than a month. And Charles Hoskinson, the founder said he can't pump the price.

**Charles Hoskinson** (0:06)
If you want a leader that can make the price of ADA go back up to the all-time high, I'm just not your person for that.
Because I've never joined this game to make cryptocurrencies more valuable. I don't know how to play that game, and even if I did, the ethics behind it are deplorable.

**Nick Valdez** (0:26)
Well, some holders are saying, I wish you would play those games. Now, we're going to talk about the 19-cent range that we tried to flip back into support and then turn to resistance. This 15-cent range, what exactly is taking us down to this teal line down here? We're going to look at the record low daily RSI, and what happened the prior record low? Did Cardano bounce from that level? And then we're going to look at what some would say the most important Cardano chart, and that's the ADA Bitcoin chart. Let's start with the 19-cent range. So we gave you this level before we came down to it, and I thought it might take a few days. This is One Hour Candles. I didn't know it was going to happen hours after my upload, and you can see, you know, it held as support briefly, got a little bit of a bounce from the WIC low, you know, about a 7% pump, turned into resistance, and now we're coming down to this level. So now let's talk about this 15-cent range. Why are we coming down to 15 cents? Well, for that, I drew out a little thing from 2021 Right here, you can see Cardano experienced a flash crash, but it only happened mainly on one exchange. Now it spilled out over a little bit, but mostly this is the Kraken 2021 wick. Now Cardano, alongside other major cryptocurrencies, including ETH, including Bitcoin, you also saw it on XRP, it had a flash crash only on the Kraken exchange. This happened February 22nd in 2021 Now this dramatic localized price dip did not match the broader market value though. And when they looked into this, when it happened, it looks like, well, it just ran out of liquidity. There's no liquidity on that Kraken platform. And this right here is that February 22nd, 2021 wick. But it wasn't the only time we would come down and test this bottom range. And you can see the dotted line. We actually came down to this level perfectly just recently, but you can also see, you know, paid a little of attention to it here, kind of flipped it into support before Cardano would go on its mega run in 2021, it would go to $3.
And then you can see it right here, acted as resistance in July of 2020
And when we switch to the four hours, you can see right now, it is trying to hold as support and even an argument for, you know, this is a small timeframe, little bit hard to tell, but this looks like a falling wedge pattern and to, you know, more often than not, you're gonna see the falling wedge break to the upside. Now, this is a slight wedge to the downside, maybe if you take it to the wick, it looks a little bit more clean, but I mean, this is technically a slightly bullish signal that we are seeing right now. Now let's talk about the record low RSI. So this stands for Relative Strength Index, and it just shows the strength of a market. We're gonna switch to the daily.
This is where we're at right now. This is a record low, this second yellow line. We have never seen the RSI this low in Cardano's history, and actually it looks like it's moving up slightly today, but even after we move it up, there's no other RSI that comes close. You can see a couple times we touch this other yellow line, we hit it twice, three times, boom, boom. We never, never have come down this low on the daily RSI. I mean, this is as bad as ever been. But I said, what happened during the prior lows? So let's go ahead and look at those three times that we tested the other yellow line. So you see it right here, you see it right here, and you see it right there. Let's add our vertical lines. We're going to throw one here, that one right there, and we got one right here. So now we have our lines in the sand when we saw record low daily RSI, and let's go to the time that we see it in June of 2023