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ADA Cardano launches testnet, but ADA is still struggling to gain a foothold
The Cardano Foundation announced the launch of the Ouroboros Leios public test net, marking a significant progress in expanding the network. However, despite the encouraging prospects for this technology, Cardano\'s native cryptocurrency ADA is still facing price pressure. Cardano is known for its rigorous, research-centered blockchain development path and has always been committed to enhancing network performance through scientific methods.
What does \"Musashi Dojo\" offer?
The new \"Musashi Dojo\" testnet environment has been officially unveiled, providing developers with a platform to verify protocol capabilities. This environment aims to improve transaction efficiency without sacrificing security and decentralization. This move is expected to help improve the technology so that it can solve potential problems before it is fully integrated into the Cardano main network.
The Cardano Foundation is excited to say that community-driven testing can finally begin, and that these proposals have gone through lengthy discussions and peer review, focusing on capacity expansion solutions. As developers test this plan in practice, it is expected that Cardano\'s ecological landscape will continue to expand, giving rise to more powerful decentralized applications.
Is ADA in price trouble?
When testing online launch, ADA\'s trading price was approximately US$0.1668, down 4.5% within the day. The cryptocurrency has fallen into a cycle, and although it has gained some support at $0.1564, it is still difficult to break through the resistance level around $0.1775.
Attempts to push up the price were overwhelmed by selling pressure, causing the token to fall back to previous lows. ADA prices remain below key moving averages such as the 20th, 50th, 100th and 200th days, reinforcing bearish sentiment in the medium to long term.
Support appears at $0.1564, serving as a safety net.
Preliminary resistance remains around $0.1775.
The 20-day exponential moving average (EMA) is at US$0.1687, suggesting slight resistance ahead.
The 50-day EMA is at US$0.1851 and will be considered the next important benchmark.
Open interest in the Cardano derivatives market has soared to more than US$500 million, indicating strong market interest during periods of price volatility. Still, Cardano\'s overall appeal in the DeFi space-evidenced by a stable total lockdown (TVL) measure-shows that its network remains resilient. If the daily closing price is higher than US$0.1775, it may stimulate buyer confidence; while a drop below US$0.1564 may intensify the downward trend.
