Key Points
- Cardano’s ADA slipped nearly 2% over the past 24 hours and is now trading above $0.55
- Investors remain optimistic about ADA’s price action ahead of the anticipated Leios upgrade
ADA down 8% this week, but bulls remain hopeful
ADA, the native token of the Cardano ecosystem, underperformed this week in line with the broader crypto market, losing about 8% over the past seven days and currently trading around $0.57 per token.
The weaker performance mirrors losses across Bitcoin and other major cryptocurrencies. Still, these declines have not dampened bullish sentiment ahead of Cardano’s upcoming Leios upgrade.
The Leios upgrade aims to substantially increase the network’s throughput and scalability. According to Input Output Global (IOG), the research and development team behind Cardano, Leios is designed to optimize transaction processing and resource utilization, especially during periods of peak block activity.
IOG states the upgrade will introduce new mechanisms — including data attestations — to improve data security and availability while boosting overall throughput.
ADA could reach $0.65
Leios is scheduled for rollout in the fourth quarter, which could fuel a medium-term rally for ADA. In the short term, ADA may rebound from recent lows and push toward resistance at $0.65.
If bulls regain control of the market, ADA could reach the $0.65 resistance level in the near term. A sustained bullish run might drive ADA up to $0.77 — a level not seen since May.
Conversely, if bears remain in control, ADA could test support at $0.5096 in the coming hours or days. The MACD remains in negative territory, indicating sellers are currently dominant. The RSI at 37 also suggests ADA is under considerable selling pressure from investors.
Unless market sentiment shifts, ADA may see further declines over the next several hours or days before a potential recovery begins.