After soaring to a multi-year high in December, Cardano price has pulled back by 46%, leading to a $18 billion wipeout. This decline has largely mirrored the performance of other altcoins. Still, technicals and fundamentals show that buying just 10,000 ADA coins could be life-changing.
Buying and Holding 10K Cardano Coins Could be Life Changing
Cardano price was trading at $0.7162 on Monday, meaning that purchasing 10,000 coins would cost about $7,155.
According to analysts, buying and holding the coin promises substantial returns over time. In an X post, Ali Martinez, a popular crypto analyst, predicted that the coin would soon surge to $10 if it rises and maintains the support at $0.80. A move to that level would be a 488% return from the current level. The 10,000 Cardano coins will be worth $100,000 if that happens.
Other analysts are upbeat about the ADA price. A recent CoinGape article cited one analyst who predicted that Cardano will rise to $20. Such a move would give you a balance of $200,000.
$200,000 is a life-changing amount to many people as it can help them do necessary things like pay a downpayment for a house, pay school fees, and other things.
Potential Catalyst for ADA Price
Cardano has several bullish catalysts. PolyMarket odds for a spot ADA ETF have jumped, a sign that many analysts expect it to be approved. Such a move would lead to more inflow from Wall Street investors.
Cardano has been named as one of the top coins to be in Donald Trump’s Strategic crypto stockpile. Further, Cardano is widely seen as the most decentralizd blockchain in crypto. It recently became the first one to have a ratified constitution.
Cardano Price Chart Points to More Gains
Buying and holding 10,000 Cardano could also be profitable once the ongoing consolidation phase ends.
The weekly chart shows that the ADA has pulled back after hitting a high of $1.3253 in 2024. It has now moved to the second wave of Elliot Wave pattern. This phase is usually a corrective one, and is usually followed by the third bullish one. The third phase is the longest one.
Therefore, the value of Cardano may keep rising as bulls target the 61.8% retracement point at $2. Ultimately, it will likely rise and retest the all-time high of $3, followed by more gains.
The bullish ADA price forecast will become invalid if it drops below the key support at $0.5145. That move will invalidate the Elliot Wave pattern and point to more downside to $0.20.
The post Cardano Price: How Holding Just 10K ADA Could Change Your Life appeared first on CoinGape.
