Cardano's ADA token has been on a rollercoaster ride, but its price drop may be coming to an end. Despite the downturn, investors are holding on tight, and their conviction could be the key to Cardano's recovery. With a potential profit boost of $500 million on the cards, ADA holders are in for a treat.

The Mean Coin Age, a metric that measures the average age of coins held, has been steadily increasing. This indicates that investors are holding onto their ADA tokens for longer periods, a sign of confidence in the asset's future performance. As the Mean Coin Age rises, it suggests that investors are willing to weather the storm, and their conviction could be the catalyst for Cardano's price resurgence.

According to the Global In/Out of the Money (GIOM) metric, ADA is facing losses of about 1.7 billion ADA, worth around $683 million. However, if Cardano's price manages to breach the $0.42 mark, this supply could become profitable, drawing in more investors and strengthening ADA's resilience in a bearish market.

Cardano's price fell out of a bullish symmetrical triangle a month ago, but with the support of bullish cues and investor confidence, it could bounce back. The target price is $0.42 in the short term and $0.46 in the long term. However, if investors cash out early, the bullish thesis could be invalidated, and ADA may fail to breach $0.42.

In conclusion, Cardano's price resurgence is on the horizon, and with it, a potential profit boost of $500 million. As investors hold on tight and the Mean Coin Age increases, ADA's recovery looks more likely. With a target price of $0.42 and $0.46, Cardano's future looks bright, but only time will tell if the altcoin can overcome its losses and reach new heights.