$RAY : Breaking Through or Due for a Pullback?🚀📈
RAY is experiencing strong bullish momentum, currently priced at $7.628 after a 13.04% increase in the last 24 hours. The price is trending above key moving averages, with $7.604 (MA7) acting as dynamic support and the $7.924 level as the first major resistance. If RAY breaks through this resistance, we could see it test higher levels around $8.006 and $8.200. Volume has been supportive, confirming the strength of the move.
Trade Setup
• Bullish Scenario: Enter a long position if the price breaks and holds above $7.924 with sustained high volume. Target $8.006 and $8.200, with a stop-loss below $7.457.
• Bearish Scenario: If the price fails to breach $7.604 and shows signs of reversal, consider a short position. Target $7.457 and $6.933, with a stop-loss above $7.924.
Keep an eye on these key levels for potential price action. Always trade wisely and manage risk carefully!