Crypto Analyst Predicts $10 ADA: Is Cardano About to Explode?

A top crypto analyst has predicted that Cardano’s (ADA) price could rise to $10 in the long term. This forecast is based on technical analysis and upcoming developments like the Midnight mainnet and Leios upgrade. The analyst, Quantum Ascend, said the target is based on an Elliott Wave pattern and potential for exponential growth.

ADA is currently in a bullish trend, with recent price patterns suggesting it is entering the final phase of a long-term uptrend. The analyst compared Cardano’s performance to its 2018–2020 cycle, which saw a similar pattern before a rebound. If the trend continues, the price could hit the $10 mark.

The Leios upgrade is expected to enhance Cardano’s scalability and performance, potentially making it more competitive with other top blockchain networks. This upgrade will allow the platform to handle more transactions and support a broader ecosystem. These developments could attract more developers and investors to the Cardano network.

Why Is Cardano in a Bullish Trend?

The bullish case for ADA is supported by strong technical indicators. The price has been moving within an ascending channel, with clear resistance and support levels. The analyst noted that the price is currently aligned with the upper side of this channel, suggesting a continuation of the upward trend.

In addition, Cardano has seen growing interest in its ecosystem. The Midnight mainnet, which includes the NIGHT token, has already gained significant traction with a market cap exceeding $1.3 billion. This development could increase the overall value and adoption of the Cardano network.

What Are the Key Risks to the $10 Prediction?

Reaching $10 would require a long-term investment horizon. Cardano’s previous bull cycles took over four years to move from one key price level to another. A similar timeline could be expected for this potential rally.

A critical obstacle for the bullish case is the resistance level at $1.3173. If ADA falls below the lower side of its ascending channel, the price could decline to a psychological level of $0.10. This would represent a nearly 74% drop from the current price, invalidating the bullish prediction.

What Are the Institutional and Market Implications?

Cardano has already gained exposure through crypto index ETFs. A standalone ADA ETF is still pending SEC approval, which could significantly boost institutional and retail investor interest. If approved, the ETF could attract more capital to ADA and increase its price volatility.

Meanwhile, the broader crypto market is showing signs of institutional adoption. Recent filings by Wall Street firms like Morgan Stanley for spot Ethereum and Bitcoin ETFs suggest increased mainstream acceptance. This trend could indirectly benefit ADA by creating a more favorable market environment for crypto assets.

What Do Analysts Say About Cardano’s Future?

Analysts remain cautious but optimistic about Cardano’s long-term potential. While the $10 target is ambitious, the platform’s upcoming upgrades and growing ecosystem suggest that it has the potential to outperform many other layer-1 blockchains. Institutional interest and regulatory developments will likely play a significant role in determining whether the price can reach the projected level.

Technical indicators, such as RSI and Elliott Wave patterns, also support the bullish case. However, investors are advised to monitor key price levels and market sentiment closely. If the price breaks below key support levels, the bullish scenario could be invalidated.