Can Cardano whales stop ADA price from falling 20%?

cointelegraph.com:

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.

The Lead-in stage sees the price trending upward in an orderly fashion — without any excess speculation. But the Bump stage witnesses a sharp advance in prices, followed by a complete wipeout of the spike.

In the Run stage, the price breaks below the support from the Lead-in trendline. Currently, Cardano appears to have entered the Run phase of its BARR pattern, as shown below.

If the pattern is confirmed, BARR's downside target is measured after subtracting the breakdown point at the support line from the pattern's maximum height. That brings ADA's price target near $0.22 in August or early September, down 20% from current levels.

Conversely, an ADA rebound can reach the 50-day exponential moving average (50-day EMA; the red wave in the chart below) near $0.30 in August, up 5% from the current prices.

Furthermore, flipping the wave into support could see a further run-up toward the 200-day EMA (the blue wave) near $0.34, up around 30% from current price levels.

On-chain fundamentals, however, could offset the bearish risks for Cardano.

Notably, whale and shark wallets holding between 100,000 and 1 million ADA have accumulated $116.1 million worth of Cardano since May 2023, raising their net holdings to the highest levels since September 2022.

This period of Cardano accumulation coincides with its