Yello, Paradisers! Could #RAYUSDT be on the brink of a decisive move? Let’s dive into the chart to decode the possible scenarios.
💎#RAY is currently forming a bearish Head and Shoulders (H&S) pattern, signaling a potential downward move if the pattern breaks successfully. The initial target in this case would be the $3.5–$3 demand zone, a critical level where buyers could step in and push the price back up significantly. If this rebound occurs, the next major resistance zone could serve as a strong upside target.
💎However, a more bearish outcome may unfold if RAY fails to rebound from the demand zone. A breakdown below the demand area could trigger a bearish signal, pushing the price further downward toward the $2.7–$2.3 strong support zone.
💎The historical respect of the $2.7–$2.3 zone suggests bulls might once again defend this level if tested. But traders should be cautious: a confirmed break below $2.3 could lead to a more significant dip toward the next strong support levels.
Remember, the disciplined always win in the long run. Stay sharp and trade smart.
📈LONG: $RAY (1D)
#RAYUSDT | #RAY | #Raydium
Current Price $4.39
Market Cap $1.30B
Change 1h -3.28% | 24h +9.66%
Daily Indicators:
• RSI: 42 - Neutral 🟠
• MACD: -0 - Bearish 🔴
• EMA: 4.94 - Trading Below 🔴
Analysis:
The chart for #RAYUSDT is hinting at a potential bearish breakout with a Head and Shoulders pattern. This signals a warning for bulls to stay cautious. The resistance level around $4.50 could be a pivotal point, determining if the bearish trend will sustain.
Price Targets:
Should the bearish pattern play out, a drop to $3.50 is possible. A breach below this could see further decline to around $1.50. For bulls, reclaiming $4.50 might spark a turnaround. Stay alert!
Raydium's community: @Raydium