๐ Current Price: $5.95 (-7.38% in the last 24h)
๐ 24h High: $6.436 | 24h Low: $5.900
๐ Volume: 7.04M RAY traded in the last 24 hours, with $42.82M in USDT trading volume.
Key Support and Resistance Levels:
1. Support Target #1: $5.90
The immediate support level is at $5.90, which is near the low of the last 24 hours. A strong bounce here could indicate a reversal or consolidation before testing higher levels. Investors should watch this level closely for any bullish signals (e.g., a strong rejection of lower prices).
2. Resistance Target #1: $6.40
The first resistance is at $6.40. This level marks the previous high for the 24-hour period and could act as a critical point for price action. If the price breaks above $6.40, it might lead to further upside momentum towards $6.70 or higher.
3. Target for Bullish Breakout: $6.70
A breakout beyond $6.70 could signal the beginning of a more sustained uptrend for RAY. Watch for confirmation through increased volume and momentum indicators (RSI, MACD) suggesting that RAY is gaining bullish strength.
Moving Averages & Indicators:
The Exponential Moving Averages (EMA) and Bollinger Bands are indicating a potential squeeze in volatility. If RAY consolidates around the $5.90 level and breaks above $6.40, it could create an optimal long setup.
The RSI is hovering around neutral, signaling that the market is not yet overbought or oversold, providing room for potential price swings.
The MACD histogram shows signs of weakening bearish momentum, which could support further upside if a breakout occurs.
Conclusion:
The market is currently in a consolidation phase, with RAY testing key support and resistance levels. A break below $5.90 could lead to further downside towards $5.70, while a breakout above $6.40 may initiate an upward move towards $6.70. Keep an eye on volume and technical indicators for confirmation of the next move.
๐ Reminder: Crypto markets are volatile, and price action can change quickly. Always perform your own research and assess your risk tolerance.
๐ Trade $RAY /USDT on Binance: RAY/USDT Trading
#COSSocialFiRevolution #BTCBreaks100K? #AltcoinNextMove #BTC100KToday? 
