Cardano Price Prediction: Will Ouroboros Leios Progress Spark a Rally?

Cardano price rose 3.66% to $0.197 over 24 hours, following a recovery across major cryptocurrencies after the U.S. midterm elections. 

The overall crypto market rose 3.38% to reach a total value of $2.69 trillion, with investors shifting back toward riskier crypto investments.

The rebound saw Bitcoin price reaching above $80,600 and Ethereum rising by nearly 4% to move past $2,430. XRP also rose, to $1.31, with purchases among top tokens.

Democrats took control of Congress and brought clarity as to election results but not to cryptocurrency legislation. The result could make it harder to push through bills currently pending that are backed by the digital asset sector.

Cardano Prepares for Leios Node 11.3 and Dijkstra Hard Fork

The Ouroboros Leios update is taking steps towards the release of Cardano on the mainnet, with four out of seven development goals accomplished. It is still being tested on the pre-production Musashi testnet while devs are testing out performance and getting ready for wider integration.

Cardano’s Ouroboros Leios is steadily progressing towards mainnet readiness.

4 of the 7 development objectives are now 100% complete, while the dedicated testnet still going.

The next milestones are the Leios-enabled Node 11.3 release, the required governance actions, and ultimately the Dijkstra hard fork.

Really looking forward to seeing Leios on mainnet, it could take Cardano to 100s-1000s of TPS.

— Cardanians (CRDN) (@Cardanians_io) November 4, 2026

In the future, the Leios will be used in the release of the next minor update v11.3, as well as governance approvals for the Dijkstra hard fork. Among the completed objectives on the development dashboard is a 1,000 transactions per second (TPS) demo.

But that doesn’t mean Leios will perform in a similar way when it first launches on mainnet. Network capacity will be determined by approved protocol parameters and additional testing as developers work towards a phased mainnet launch.

Will Cardano Price Hit $0.30 in 2026?

The latest ADA price surge to $0.1975 lifted Cardano above $0.190 support, with momentum indicators strengthening during the rebound. 

Cardano price had briefly hit the $0.20 mark during the last four-hour candle before it retreated towards the price shown. 

The RSI was at 60.18, indicating that there was some upward momentum, but not enough to be considered overbought at the 70 level. 

The 20-period Chaikin Money Flow indicator was at 0.06, indicating light buying pressure.

The first hurdle was $0.20, where the latest candle encountered resistance before slipping lower. If the rally continues beyond that level, then the next resistance would be at $0.21. 

The recovery to $0.23 would be confirmed on the break of $0.21 with it as support. A breakout beyond $0.23 could then open the way toward the next resistance level at $0.25.

The chart also placed $0.30 as a far-off resistance level above the near recovery targets as per the Cardano long-range prediction. 

On the negative side, $0.19 was the closest level of support and an important level that needs to be held to support the recovery.

Cardano Funding Turns Positive as Trading Volume Surges 74.39%

The Cardano funding rate went positive at 0.0071% on Wednesday, indicating slightly bullish sentiment. Long traders now pay shorts to maintain their leveraged positions. 

The trading volume rose 74.39% to $500.87 million, indicating greater activity. Meanwhile, open interest fell 0.73% to $399.55 million, indicating a slight decrease in outstanding derivatives positions.