Raydium ($RAY ) is currently trading at $5.404, down -9.77% in the past 24 hours. Here's a breakdown of the key technical indicators and potential targets:
Key Trading Levels:
24h High: $6.476
24h Low: $5.378
Support Level: $5.30 (near recent low)
Resistance Levels: $5.75 (short-term), $6.00 (major resistance)
Indicators:
SAR (Stop and Reverse): $5.549 (indicating bearish momentum)
RSI (Relative Strength Index): Near 40, signaling potential oversold conditions.
MACD (Moving Average Convergence Divergence): Negative histogram suggests continued selling pressure but nearing a possible reversal.
Bollinger Bands: Price is hugging the lower band, indicating increased volatility and potential for a bounce.
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🎯 3 Potential Price Targets:
1. Short-Term Target: $5.75
A recovery to this level aligns with short-term resistance from moving averages and recent trading patterns.
Traders can watch for a breakout above $5.55 as confirmation.
2. Medium-Term Target: $6.00
This psychological level represents the upper Bollinger Band and previous intraday highs.
A move past $6.00 could signal a shift in sentiment.
3. Long-Term Target: $6.50
If RAY breaks above $6.00 with strong volume, the next target is $6.50, aligning with previous significant resistance.
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📌 Conclusion:
Bullish Case: A reversal is likely if RAY maintains support above $5.30 and RSI exits oversold territory.
Bearish Case: Breaking below $5.30 could lead to further declines towards $5.00 or lower.
🚀 Stay informed and trade responsibly! For live updates, check out $RAY
/USDT on Binance now.
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