🚀🔥$RAY /USDT Technical Analysis Trading signal 🚀🔥
Current Price: $5.02
24h High: $5.10
24h Low: $4.36
Trend Analysis
The RAY/USDT pair is currently in a bullish trend, with a +14.08% gain in the last 24 hours. However, there is some volatility in the short term, with price fluctuations between $5.10 and $4.36. The short-term momentum shows a slight downward trend, especially in the 15m and 1h timeframes, but the 24h chart still indicates overall strength.
Key Support & Resistance Levels
Support Level: $4.36 (24h Low)
Resistance Level: $5.10 (24h High)
Technical Indicators
RSI (Relative Strength Index): RSI is currently in neutral territory, indicating that the asset is neither overbought nor oversold. A breakout above $5.10 could push the RSI into overbought territory, signaling potential for a retracement.
MACD (Moving Average Convergence Divergence): MACD is showing a slight bullish crossover, suggesting upward momentum.
Volume: There is strong volume, particularly in the USDT pair (76.09M), supporting the price action.
Momentum:
Momentum is neutral to bullish, with a slight dip seen in the shorter timeframes. If RAY can hold above the $5 mark, it could experience a sustained upward movement toward the next resistance levels.
Trade Signals & Target Levels
Long Entry Signal:
Entry Point: $5.00 (if the price holds above this level)
Stop Loss: $4.50 (just below recent support)
Target 1: $5.25 (first resistance level, 4.8% potential gain)
Target 2: $5.50 (next significant resistance, 9.6% potential gain)
Target 3: $5.75 (potential extension of bullish momentum, 14.5% potential gain)
Trade Momentum
Bullish Momentum: The price action over the last 24 hours indicates a potential continuation upward, especially if the price breaks through $5.10 and holds above it.
Bearish Momentum: If the price drops below the $4.50 level, bearish momentum could set in, targeting the $4.36 support again.