Can Cardano whales stop ADA price from falling 20%? By Cointelegraph
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The price of Cardano (ADA) risks falling by over 20% in August as it enters a breakdown stage of a classic technical pattern that could be offset by some promising fundamentals.
Dubbed Bump-and-Run-Reversal (BARR), the pattern develops when excessive speculation drives the prices higher quickly, eventually leading to a “bull trap” situation. As it forms, the price trend undergoes three stages — Lead-in, Bump, and Run — as shown below.
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The price of Cardano (ADA) risks falling by over 20% in August as it enters a breakdown stage of a classic technical pattern that could be offset by some promising fundamentals.
Dubbed Bump-and-Run-Reversal (BARR), the pattern develops when excessive speculation drives the prices higher quickly, eventually leading to a “bull trap” situation. As it forms, the price trend undergoes three stages — Lead-in, Bump, and Run — as shown below.
Continue Reading on Coin Telegraph
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