$RAY /USDT Trading Signal - Momentum Consolidation
Current Price: $5.558 (+2.85%)
24h High: $5.749
24h Low: $5.300
24h Volume: 13.55M USDT
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Market Overview
RAY is witnessing a short-term pullback after a strong upward surge to $5.749. The current consolidation near $5.55 indicates potential for either a breakout or correction, depending on volume and sentiment.
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Trading Plan (1H Timeframe)
Bullish Scenario:
Entry Zone: $5.55 - $5.60
Targets:
T1: $5.70
T2: $5.85
T3: $6.00
Stop Loss: $5.45
Bearish Scenario:
Entry Zone: Below $5.50
Targets:
T1: $5.40
T2: $5.25
Stop Loss: $5.60
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Technical Insights
MACD: Neutral, with a slight bearish divergence indicating reduced momentum.
RSI: Moderately overbought, but not extreme. Potential for further upside if momentum builds.
Support Levels: $5.50 and $5.30.
Resistance Levels: $5.70 and $5.85.
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Strategy Recommendations
Watch for a breakout above $5.60 for bullish confirmation.
Increased selling pressure below $5.50 could lead to further corrections.
Adjust stop-loss levels based on volatility and trade size.
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