What to know:
- Cardano launched the Ouroboros Leios public testnet to advance network scalability.
- Cardano price trades below key resistance as bulls target the $0.177 level.
- Open Interest remains elevated while investors monitor TVL and price momentum.
Cardano price remained under pressure after the Cardano Foundation announced the launch of the Ouroboros Leios public testnet, marking a major milestone in the blockchain’s long-term scaling roadmap.
“So far, so good. The Musashi Dojo opened its doors,” the Cardano Foundation said, adding that the “Leios public testnet” is now live for anyone to test. At press time, Cardano price traded near $0.1668, down around 4.5% over the past 24 hours.
Also Read: Cardano Price Forecast: ADA Bulls Target $0.23 Amid Strong Whale Activity
Leios Testnet Marks a Major Milestone
Following the Cardano Foundation’s announcement of the introduction of the Ouroboros Leios testnet, the Cardano price faced hurdles, although the new testnet represents an important step toward improving the scalability of the Cardano network.
Developers can now test the protocol, which is designed to increase transaction throughput without sacrificing security or decentralization.
The Foundation stated that the Musashi Dojo has officially opened, making years of peer-reviewed research available for public testing.
This rollout is expected to help developers identify bugs and improve the protocol before any future Leios mainnet upgrade. The development also highlights Cardano’s continued focus on long-term infrastructure, which could benefit decentralized applications as the ecosystem expands.
Also Read: Cardano Price Rises Toward $0.20 After Positive Wallet Growth News
Cardano Price Hits Key Resistance
According to TradingView, the daily chart shows Cardano price rebounding from the $0.1564 support zone before facing rejection near $0.1775 resistance.
Although buyers briefly pushed ADA higher, sellers regained control, pulling the token back toward $0.1668. The price continues to trade below the 20, 50, 100, and 200-day exponential moving averages, indicating that the broader trend remains bearish.
The 20-day EMA near $0.1687 is acting as immediate resistance, while the 50-day EMA around $0.1851 represents the next key hurdle. Trading volume has also increased during the recent rebound, suggesting heightened market participation.
A daily close above $0.1775 could improve short-term sentiment, while losing $0.1564 support may expose ADA to another leg lower.
Also Read: Cardano Price Recovery Accelerates Following Breakout Above 200 EMA
What Investors Should Watch
According to CoinGlass, Cardano’s Open Interest remains elevated after recently crossing the $500 million mark, suggesting that traders are still actively positioned. Meanwhile, DeFiLlama data shows that Cardano’s Total Value Locked (TVL) has remained relatively stable, reflecting steady on-chain activity.
Although the Leios testnet strengthens Cardano’s long-term outlook, Cardano price will still depend on whether buyers can reclaim the $0.177 resistance level.
A successful breakout could open the way toward $0.185, while a drop below $0.156 may trigger another leg lower. Investors should continue monitoring both ecosystem developments and key technical levels before expecting a sustained trend reversal.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Cardano Price Rises 5% as ADA Defends Critical Support and Eyes Higher Levels
Be the first to comment