#RAY/USDT Technical Analysis and Expected Outcome
Current Price Analysis:
Daily Chart: RAY/USDT is trading at $2.0036.
The price is above the 200-day SMA ($1.5630) and VWAP ($1.9838), indicating strong bullish momentum.4-Hour Chart: The price is at $2.0087, above the 200-day SMA ($1.7001) and VWAP ($1.9943), confirming short-term bullish momentum.
Technical Indicators:
RSI: The daily RSI is at 60.15, suggesting strong but not overbought conditions. The 4-hour RSI is at 60.23, indicating potential for further upward movement.
MACD: Both daily and 4-hour MACD show bullish crossovers, reinforcing the upward trend.
Support and Resistance Levels:
Daily: Support at $1.5630, resistance at $2.0450.4-Hour: Support at $1.7001, resistance at $2.0151.
On-Balance Volume (OBV):
Increasing OBV indicates accumulation, supporting potential bullish momentum.
The RAY/USDT chart shows strong bullish indicators on both daily and 4-hour time frames, with the price maintaining above key support levels and moving averages. The RSI and MACD both support continued upward momentum. Key resistance levels to watch are $2.0450 on the daily chart and $2.0151 on the 4-hour chart, with strong support around $1.5630 and $1.7001, respectively.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any trading decisions. Trading cryptocurrencies involves significant risk and can result in the loss of your invested capital.
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