An analysis says Cardano may be able to attempt a second rebound after breaking out of a long-term downtrend structure.

On Sept. 2 local time, blockchain outlet The Crypto Basic said cryptocurrency analyst Rana Valentis said Cardano has finished its first rebound after escaping a declining channel that began in mid-2025 and could now enter a second rebound zone for further gains.

The key is the $0.19 support level and the $0.24 resistance level. After breaking above the top of the channel, Cardano is moving sideways above $0.19 on the daily chart. Valentis said this range could become the foundation for the next rise. He added that if $0.19 holds steadily, the bullish setup strengthens, but if that support breaks, expectations for a trend reversal could weaken.

Valentis expected ADA to rebound once more from the current support zone and then test the $0.24 resistance level. He said a clear break above $0.24 could signal that it has exited a prolonged bearish flow and entered a new bullish phase.

He also laid out upside price targets. Valentis set $0.29, $0.39, $0.50 and $0.70 after a break above $0.24, ultimately leaving room up to $0.95. Cardano is trading at $0.1968, so it would need to rise 382 percent to reach $0.95. The last time Cardano reached that range was in September 2025.

Still, it is difficult to see the bullish scenario materialising immediately. The chart shows two previous rebound attempts that failed to change the broader trend. Attempts in October 2025 and February 2026 were both blocked by resistance. This precedent shows that if buying fails to sustain strength above the key resistance zone, it could be pushed back again this time. The market is therefore watching whether $0.19 holds and whether $0.24 is broken as the next turning points.

Short-term supply and demand conditions are also not favourable. Cardano started September in a bearish tone, and its price fell 1.82 percent over the first two days of the month. Since launch, Cardano has ended September higher only once, rising 7.87 percent in 2024. By contrast, it ended September lower in 2018, 2019, 2020, 2021, 2022, 2023 and 2025. Overall, Cardano's average September return is about minus 7.74 percent.

This seasonal weakness could weigh on the technical rebound scenario. For Cardano to turn its escape from the long-term downtrend structure into an actual trend reversal, it must hold support and break resistance at the same time while also withstanding September's weak momentum.

"$ADA First Bounce Done. Get Ready For The Second One Cardano has successfully bounced from the broken descending channel and is now consolidating above the $0.19 support on the daily chart. One more bounce from here, followed by a clean break above the $0.24 resistance, will… pic.twitter.com/LAXL7bbhtp"