$RAY
/USDT Technical Analysis & Trade Signal💯🔥
Current Price: $5.83
24H Change: +5.44%
Technical Overview
Trend: Bullish momentum, with a significant +5.44% increase in the past 24 hours.
Support Levels:
First Support: $5.50 (Strong buyer interest expected around this level)
Second Support: $5.35 (Potential lower level to consider as a pullback)
Resistance Levels:
First Resistance: $5.85 (Immediate resistance around the recent high)
Second Resistance: $5.95 (Next level if bullish momentum continues)
Key Indicators:
RSI: 70 (Approaching overbought, so potential for slight correction)
MACD: Bullish crossover, confirming continued upside potential.
Trade Signal
Entry: $5.83 (or a pullback near $5.70 for a better entry point)
Take Profit Targets (🎯):
1. First Target: $5.85 (Immediate resistance)
2. Second Target: $5.95 (Higher resistance level)
3. Third Target: $6.10 (Continuation of bullish trend)
Stop Loss: $5.45 (Below the nearest support to manage risk)
Momentum
The market is showing strong upward momentum, though RSI suggests it may soon reach an overbought level. Watch for signs of slowing down before committing to any position at higher levels.
Recommendation: Consider entering around current levels ($5.83) or lower if a pullback happens. Target the $5.85 to $6.10 range with cautious stop losses.
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