Cardano (ADA) has risen above the $0.24 zone on the weekly chart, a level that had acted as resistance for years.

On Sept. 30, local time, blockchain outlet The Crypto Basic said Cardano’s move this week has emerged as a turning point that could separate a trend reversal from a temporary breakout.

Sssebi, a Cardano staking pool operator (SPO), said ADA finished weekly trading above a resistance zone that had long capped gains. The key level is around $0.24, which has served as a major resistance line through a prolonged decline and sideways trading.

The move is notable because ADA did not merely push above resistance intraday but formed its weekly close above it. Buying demand has pushed through a level where rallies had repeatedly stalled. That said, buying interest must continue after the breakout for the move to hold.

Sssebi also said it was too early to judge the move as a decisive breakout. This week’s action will show whether the uptrend continues or whether it becomes a “fake breakout” that briefly rises above resistance before falling back, Sssebi said. The key is whether ADA can turn the former $0.24 resistance into support and settle above it.

If ADA holds this level and additional buying flows in, the first upside target is $0.30. Sssebi then presented $0.40 or higher as a long-term target. If it slips back below $0.24, confidence in the breakout would weaken and doubts could grow over the view that it has escaped a multi-year trading range.

Other analysts are also pointing to $0.30 and $0.40 as key levels. In an earlier analysis, The Crypto Basic cited rising trading volume and an upward move in moving averages as grounds for the possibility of reaching $0.30. Crypto trader Dan Gambardello also mentioned the possibility of a rise to $0.40 and stressed that Cardano’s long-term price potential should not be underestimated.

The targets, however, are scenarios premised on the breakout holding. In the near term, the analysis said confirming support at the former resistance zone matters more than the extent of further gains.

The key to the move is not a simple rebound but that ADA cleared a multi-year capped price area on a weekly closing basis. Still, whether it can hold $0.24 even amid market weakness will determine whether the move is a signal of trend reversal or a temporary break.

$ADA gets the weekly close above the multi-year resistance. This week will be critical, we will find out if it was just a fakeout or bullish continuation will follow to our $0.30 target. pic.twitter.com/XTDPG9pfw3