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📊 Bullish Technical Analysis for
$RAY 📊With the current price at $3.25 and
$BTC Bitcoin hitting a high of $71,000, the cryptocurrency market is showing strong bullish signals. Here are some key takeaways from this RAY chart on the 4-hour time frame:1. Key Support Level: RAY has formed a strong support around $2.77, indicating a potential buying zone where buyers are protecting the price.2. Higher Highs: The chart shows a recent high at $3.61, followed by a pullback that seems to be forming a consolidation pattern, which could be a break before another bullish push.3. Parabolic SAR Indicator: The SAR (yellow dot indicator) is below the current price, signaling a continued bullish trend on this time frame. This suggests that buying pressure is still present and could push the price towards higher levels. 4. Rising Volume: We see increasing volume over the past few sessions, which supports buyer interest. This build-up could be the prelude to a new bullish momentum if these volumes are sustained. 5. Moving Average (MA): The 5- and 10-period moving averages are aligned with the trend, and a positive crossover on the MACD is imminent, which could validate a bullish continuation. Bullish Conclusion: With the current structure, Ray (RAY) looks primed for a potential rally to new highs. A “buy and hold” strategy in this area could prove favorable, considering the solid support and BTC momentum as a catalyst for the altcoin market.
Are you ready for this possible
#rally ? 🔥