[DigitalToday reporter Yoonseo Lee (이윤서)] Cardano (ADA) has regained the $0.235 level, raising the possibility of a medium- to long-term rebound.

The Crypto Basic, a blockchain outlet, reported on Oct. 1 (local time) that cryptocurrency analyst Crypto Patel assessed that ADA held a key support zone on the weekly chart and entered an accumulation phase.

He cited the defense of the weekly order block and golden pocket, and a break back above $0.235, as the basis for a bullish outlook. He said conditions were in place for the rebound to continue after ADA held major support and recovered a technical baseline.

On the weekly chart he presented, ADA was priced at about $0.2549. The key support zone was given as $0.14 to $0.20. Crypto Patel described that range as a bullish order block and accumulation zone where buying interest could flow in. He saw the area as a base that could support the price as long as ADA stays above the range.

The chart also marked a Fibonacci retracement level of 0.618 at $0.1278 and a 0.5 level at $0.2351. Crypto Patel stressed the recovery of $0.235. He interpreted ADA moving back above the Fibonacci 0.5 level as a signal supporting the possibility of a medium- to long-term rebound.

He pointed to $1 to $1.20 as resistance that must be cleared first on the way up. It is an area that aligns with a long-term horizontal resistance line, and he said a breakout would be needed for further gains even if the rebound continues. Above that, $2.8962 was shown as a key price level, and a Fibonacci extension level was presented near $3.1344.

Crypto Patel's stated targets are $1, $3 and $5. The first target of $1 overlaps with the lower end of the major resistance zone. From the reference price of $0.2549, reaching each target would require gains of about 292 percent, 1,077 percent and 1,862 percent. All are medium- to long-term upside scenarios with large gaps from the current price.

The long-term chart also included paths pointing to higher prices. A green projection line showed a move from the June low to about $2.79, while another projection showed about $9.77. A purple projection line also pointed to near $10. This is interpreted as a path that assumes a bigger upside cycle after a break above major resistance, but it is distinct from the targets Crypto Patel presented directly.

Crypto Patel said the bullish scenario would break if the weekly close falls below $0.137. That price is close to the lower end of the bullish order block and accumulation zone he highlighted.

The key to this analysis is whether ADA can hold the recovered $0.235 level and defend the $0.14 to $0.20 support zone even during pullbacks. If those conditions are met, attention then turns to whether it can break through the $1 to $1.20 resistance zone. Since the $3 and $5 targets also assume holding key support and breaking resistance, the analysis said it is necessary to check price action step by step.

Everyone Sold $ADA At -94%. Smart Money Bought It. The Weekly Order Block Is Defended, The Golden Pocket Held, And $0.235 Is Reclaimed. The Same Demand Zone Sat Under The 2021 Run. Targets: $1 → $3 → $5 Invalidation: Weekly Close Below $0.137 @Cardano pic.twitter.com/eXQjdqzy6Z