Cardano's ADA is attempting a rebound from a long-term support zone, but an analysis said a meaningful trend reversal is possible only if it regains $0.594.

The blockchain outlet The Crypto Basic reported on Oct. 21 local time that ADA slid to the $0.13 to $0.15 range in June and is now trying to retrace to around $0.22.

The monthly trend remains bearish. ADA is still below a downward resistance line that has held for several years. That line starts from the peak above $3 in 2021 and connects subsequent cycle highs. A rebound to about $1.20 in 2025 also failed to break above that zone before turning back down.

The near-term level in focus is $0.594. To reach that zone, which corresponds to the chart's central axis, it would need to rise about 166 percent from current levels. Regaining $0.594 was presented as the first meaningful signal that the multi-year downtrend is beginning to reverse.

Resistance levels above that are also hard to interpret as immediate targets. Around $0.91 overlaps with a price zone where trading was concentrated in the past, while $1.49 corresponds to the upper half of a long-term range. They take on meaning only after ADA forms a stable recovery trend and breaks above the long-term downward resistance line.

Technical indicators also fail to support a clear bullish reversal. The monthly relative strength index (RSI) was 40.9, below both the average line of 41.8 and the neutral baseline of 50. By contrast, the Stochastic RSI showed signs of a low-zone rebound around 22 and 15. The analysis said an initial rebound remains possible, but it must be accompanied by an actual price recovery.

A volume profile also showed a zone of concentrated past trading below the current price. In particular, $0.13 to $0.15 was cited as a key lower support level. If buying defends that zone, expectations for forming a long-term bottom can continue, but if support breaks, additional downward pressure could intensify.

The key for ADA now is whether it can defend support and then recover. The analysis said the bottoming scenario remains intact only if it holds the $0.13 to $0.15 range, and that a recovery of $0.594 is needed to judge that the long-term bearish structure is beginning to ease.