TLDR
- ADA trades at $0.2147, up 1.08% in 24 hours, holding above the $0.2004 support level.
- An Ouroboros Leios test reportedly increased Cardano’s throughput capacity by 500% on its first run.
- Four more Leios testing stages remain before the expected mainnet hard fork.
- Open interest peaked near $580 million before dropping to about $480 million on August 27.
- CoinCodex predicts a gradual rise toward $0.2177 by September 1, not an instant breakout.
Cardano is trading at $0.2147 at the time of writing. That marks a rise of 1.08% over the past 24 hours.
The price is holding above the $0.2004 level. This level has acted as a floor during the recent recovery.
Traders are now watching the $0.23 zone. A move above this area could confirm a stronger breakout for ADA.
Part of the current attention on Cardano comes from a network update. The Ouroboros Leios protocol recently completed its first test run.
The account Cardanians shared the results on X. It stated that Leios increased Cardano’s throughput capacity by 500% on the first test.
The same post noted that four more testing stages are planned. These will happen before the expected mainnet hard fork.
Leios is designed to improve how many transactions Cardano can process. A successful rollout could strengthen sentiment around the network’s development.
Cardano Price Chart Signals
Data from TradingView shows ADA sitting above its $0.2004 support. The middle Bollinger Band sits lower, at $0.1972.
Both levels remain below the current price. This points to a short-term structure that favors continued gains.
The upper Bollinger Band is at $0.2344. This puts the $0.23 to $0.2344 range in focus as the next resistance area.
A break above this zone could open the door to further upside. A drop below $0.2004 would weaken the current setup and shift attention back to $0.1972.
Open Interest and Price Forecast
CoinGlass data shows Cardano’s open interest climbed to around $580 million during the recent price move. It has since eased to about $480 million as of August 27.
The pullback suggests some derivatives traders closed positions after the rally. Open interest still remains higher than most levels seen in July.
CoinCodex’s short-term model points to $0.2148 for August 28. Its forecast then shows a slow climb to $0.2155, $0.2162, $0.2170, and $0.2177 by September 1.
This data suggests a mild upward drift rather than a sudden breakout. ADA’s next moves will depend on whether it holds above $0.2004 and how it reacts near the $0.23 resistance band.
The post Cardano (ADA) Price: Traders Watch $0.23 Resistance After Leios Update appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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