I know a da we're gon na be looking at all the latest news and quite a bit of it. Coming out today and we're, also gon na take a look at cardano's price chart to do an analysis of what we might expect from card on o over the next few weeks. So to the ground. To the end of the video to see that chart analysis and price prediction so to kick start things, let's talk about the probably the most important part of news for card down or a da right now, which is that card on o is refreshing. The actual architecture that it runs on so there is a brand new type of node that is going to be actually operating on the blockchain, and this new type of node is actually going to be modular, which means that it can be very easily updated by the Card I know team as they progress with the architecture, they're building and, of course, for the Shelley main net launch. We can see in this article from over at you today that the team working on this have been working on it for about a year and a half. The whole purpose of this update is to make sure that upgrading to Shelley is as easy as possible. So this is a fantastic sign for those of us. Who'Ve been waiting for Shelley to get properly launched and something else that's really important about this up days. It'S going to open up the car download blockchain to third party developers, so we could start seeing card.
I know being used actually for private and enterprise blockchain projects. The actual upgrade is a dramatic upgrade and it's. Definitely not just a small few changes. This really overhauls the whole structure of card on. Oh, you can see here that it says in the new architecture of the node wallet and Explorer exists as separate components and a new wallet. Backend is also going to be released very soon. Another really interesting bit of news that came out recently about card, I know, is that they are potentially working on their own stable coin. Now this information was actually released by Charles Hoskinson himself, where he actually talked about the of making a real, true decentralized, stable coin and as Weis ratings actually pointed out as well. They said here. These kinds of stable Queens do not have a central point of failure. As other virtual currencies could have doing, this would give it a massive advantage over something like tether US dollar. While this sounds like it's news to us and it sounds new, it turns out that actually it's something that Charles Hoskinson has been contemplating for a very long time in fact, says here the last seven years Charles points out that if we do this, then it will Blow everyone out of the water I started in this space with stable coins and we've been thinking about them for seven years. The fact that this stable coin will, of course, be on the card. I know ad a blockchain means that the adho cam will actually be important to how it's stabilized now I'm pretty sure in a previous video about card.
I know I said that 2020 would be cardano's here and it is definitely shaping up to look that way. But before we take a look at the charts, it is worth pointing out that you should also be very, very careful and vigilant out there, as this was actually shared on Twitter today by the Cardinal Foundation. Dear Cardinal community, it looks like some of the well known community members, Ivor officials, ambassadors or normal members are being impersonated on a massive scale. Please don't fall victim for these scams and report any fake account. You see thanks, as you can see, wundabar there has actually had somebody try and clone his account, and he isn't the only one so just be very careful about who you share tweets with and such for friend. If you're gon na be doing anything on Twitter, make sure that you're not going and sending money to people who you think are admins and team members kadhai, no, because it's quite likely that it is a scam, so be careful. There are so many scammers out there and just as a side note, I did want to bring up this bit of news today because it's something that we talked about on the channel little while ago, when we saw it being done with xrp. But there are YouTube scams on at the moment that pretend to be live streams and they say send a certain amount of fear, IAM or whatever cryptocurrency might be to this address, and we will send you an airdrop of even more guys.
You all know this because you watch the channel and you're all clever people, but these are scams and it does seem like it is catching people out. So just be very, very vigilant out there. Air drops are useful marketing tools for some projects, but you shouldn't have to send any crypto to somebody for one of these actual air drops. I of course, want you guys to actually be safe out there when it comes to your crypto. Make sure that you are being careful about what you do with your crypto investments, make sure you're not sending it to anybody like that, because you will regret it and there are people who do get caught out. People get excited and forget themselves. They forget that there normally wouldn't really hand money to people, but this is crypto, and sometimes it happens, especially with the market. Looking so exciting right now, people are getting very excited about what's, going on with the price of many of the coins out. There don't be one of those people that falls foul of these scams and last up now. The most important part of the video tonight, of course, is that we're going to look at card. I know a da's price. We look at the charts over on trading view and we're gon na see whether we can expect further gains from card. I know ABA right now, so let's go and take a look at that now, but before we do, please make sure you like this video and subscribe to the channel if you haven't already done it, because I do really appreciate it.
It helps us out in the algorithms and make sure that more people see the great news about car download. Please do share this with your friends, alright guys. So here we are we're in trading view on the one day chart, and this is Cardinal ad agency us DT over on Finance. So, as you can see, we had the all time high for 2019 back in June last year, and apart from this dead cat bounce, we talked about many months ago. In September, the price has been on a very steady decline downwards and in fact it was going down and down and down, and I was getting a little bit worried because it wasn't looking too great, especially at times when we were seeing the resurgence of price from Things like XRP and other old coins in the market. It does look like things have bottomed out and we have actually hit our reversal. The price obviously accumulated very steadily over a period of 19 days back in December and once the price broke through this resistance level. Here at 0.05, 2 cents it's became quite clear that kitano is now in a actual bull trend. So if we take a look, you can see here that the price is very close to having that golden cross over on the 50 day moving average and the 200 day exponential moving average, and what is also very important to point out is the huge amount of Volume increase in Cardno right now as well.
If we bring in the williams alligator tool, we can see that the jaws are wide open and the alligator is in fact eating up the market and i've done a video about how to use the williams alligator tool before you can check that out. If you want to learn more about how to use some of these tools, but the point here is that there is actually a divergence in this indicator and you can see that it is in a very strong upward trend with the lips clearly crossing over the top Of the teeth and the actual jaw, if we bring in the stochastic RSI, you can see here that the price is ranging at the 80 benchmark level, which is actually a bullish sign it's. Only when it's in oversold and heading down into the neutral territory that we consider it to be a bearish signal, as you can see, the MACD is looking very bullish as well. Well above the zero line and no indication that is heading back down right now. One thing I do want to point out, though, is that we are seeing some resistance at around the 0.07 cent level. This was obviously support back in 2018 October October of 2018, but it didn't really provide much support during the all time high of 2019 last year and as you can see from the chart, it didn't really provide too much in the way of resistance either. So it is actually very possible that the price could shoot beyond this level of zero point: zero, seven cents if it does, where will it head? Well, there is this strong area of resistance I'm expecting between zero point: zero, seven, nine or zero point zero, eight cents and zero point: zero: nine five cents if the overall market stays bullish over the next few days.
I definitely think that car tonneau is going to try for that resistance zone. Once we get there, we could see some ranging, as the price tries to break through that level. As I said, it is quite a big zone of resistance. However, if it does – and I think it may well break through that – then it's definitely going to start targeting 10 or 11 cents beyond that. It'S gon na really depend on the rest of the market. Now, as you know, I am very bullish on Bitcoin and I think that the market is going to continue to grow this year. Considering that we have the halving coming up as well once the halving is here, we could see some pullback on Bitcoin and, along with that, a lot of the old coins as well. But I am very optimistic that kadhai know is going to be heading up towards its all time high this year, certainly as long as they keep on making good technical steps forward on the blockchain itself, we will see good reason for the price to actually increase even Further, the new node architecture is just one of the great reasons why we should see cardano's value go up, but of course Shelly is another one it's something we've been anticipating for quite a long time so I'm, pretty certain that when that happens, the price is going To react so that's my prediction for card. I know a DA over this quarter and I'd like to know what you guys think for card.
I know as well. Is it going to head up to its all time high this side of the summer or are we gon na have to wait a bit longer? Why are your thoughts? Let me know in the comments down below. As always, this is not financial advice.