$RAY

Technical Analysis of RAY/USDTCurrent ObservationsRetracement from Highs: RAY reached an intraday high of $6.00 and has begun to retrace, currently positioned at the level of $5.264 at the time of capture.Moving Averages: The 7-period moving average is at $5.588, while the 25-period moving average is at $5.222. The distance between them is decreasing, which could indicate a possible short-term trend change.Volume: The volume shows a slight decrease after the bullish impulse, which may be a sign of exhaustion on the part of buyers.Possible Movements

Resistance and Support:

Key Resistance: The $6.00 area will be an important level to overcome if the price resumes its bullish momentum.Immediate Support: The $5.207 level and the 25-period moving average ($5.222) could act as key supports. If the price remains above these levels, it could stabilize and generate new momentum.

Possible Retracement: If the price breaks the support at $5.207 and consolidates below, we could see a correction towards lower levels, such as $5.00 or even towards the $4.80 area if selling pressure continues.

Recommended Strategy

Short-term: If you already have a position, closely monitor the support at $5.207. If the price bounces in this area with an increase in volume, it could be a signal to hold or add to the position.Long-term: If the support breaks, considering reducing exposure and waiting for a lower re-entry point could be prudent.

Conclusion

RAY has shown good upward movement recently, but the current correction suggests that we may see either consolidation or further correction. It is important to monitor key support and resistance levels and adjust the strategy according to upcoming movements.