The chart shows the RAY/USDT pair on a weekly timeframe. Key points of the analysis:
Strong Upside Momentum: Price is up 45.95% in a week, indicating high volatility and strong demand.
Moving averages:
The 7-day (2.817), 25-day (2.044) and 99-day (0.989) MAs show that the price is significantly above these levels. This confirms the bullish trend in the short and long term.
MA/EMA crossover (10) also supports the rise.
Bollinger Bands: Price breaks out of the upper Bollinger Band, signaling strong bullish momentum, although it may also indicate possible overbought conditions.
Resistance Zone: The $5-$6 level is marked with a purple rectangle and represents an important resistance zone. If the price can break through this level, it could open the way for further gains.
Triangle: Formation of an exit from the triangle in the direction of growth. A breakout from it confirms the possibility of continuation of the upward trend.
General conclusion:
Current conditions are favorable for growth, but it is important to watch the resistance zone of $5-$6. A consolidation of the price above this level could lead to stronger growth in the long term.
