a quick technical analysis and trade signal for the RAY/USDT pair:🔥🔥💯
Technical Analysis:
Current Price: $5.401 (+10.99%)
Trend: Bullish (upward momentum) after breaking above the recent resistance levels.
RSI (Relative Strength Index): Neutral to slightly overbought (above 50 but below 70).
Support: $4.76 (24h Low)
Resistance: $5.48 (24h High)
Moving Averages: Above short-term (50 EMA) and long-term (200 EMA) moving averages, indicating bullish sentiment.
Trade Signal:
Momentum: Bullish continuation expected if price holds above $5.00.
Target Levels:
1. First Target (T1): $5.55 – A resistance point in line with recent high levels.
2. Second Target (T2): $5.80 – Psychological resistance level, watch for a breakout above.
3. Third Target (T3): $6.00 – Higher upside if the trend maintains bullish momentum.
Stop-Loss: Consider placing a stop-loss below $4.75 for risk management.
The market momentum suggests a potential for short-term gains if the bullish trend holds. Keep an eye on price action around key levels like $5.48 and $5.55.
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