Closely-followed crypto analyst Nicholas Merten is identifying one critical catalyst that he says will leapfrog Cardano (ADA) to new all-time highs.
In a new strategy session, Merten says Cardano may be one bullish catalyst away from igniting a strong price surge.
“Gotta say, this chart looks really good, and it shows me in this general case that over the next couple of weeks to the next two months that there’s going to be some kind of catalyst that’s going to carry price higher.”
Merten says that the catalyst to push ADA to new all-time highs will be the completion of Goguen, the stage of Cardano’s roadmap that will integrate smart contract capability. The analyst says that the highly-anticipated fundamental development could push Cardano to greater heights against the US dollar, Bitcoin (ADA/BTC), and Ethereum (ADA/BTC).
“So with this potential launch in August, this is the perfect macro catalyst to leapfrog all of these charts, to get market dominance climbing up to higher single digital territory, to get ADA/ETH starting to build up for that next breakout to revisit those highs and maybe claim an even higher point in the ratio. This is probably the most conservative element here if we’re just following the higher lows and higher highs.
For ADA/BTC to break out past its all-time highs and maybe claim and charter new all-time high territory, and also for the dollar chart to obviously start to charter much higher into possibly $3.00 up to $5.00 if we really get into the later stages of the bull market.”
According to Merten, every signal coming from the market points toward Cardano being in a “now or never” moment.
“Now it’s finally time to see the materialization of that hard work. It really is in my opinion now or never. Cardano is in the spotlight here. It’s got a lot riding on it, and investors are waiting to see it.”
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