$RAY $RAY

Analysis for $RAY /USDT

RAY/USDT Market Overview:

1. Current Price: $5.88

2. 24h High: $5.96

3. 24h Low: $4.73

Key Moving Averages:

MA(7): $5.20 – Short-term support, suggesting a bullish trend if price remains above this level.

MA(25): $4.43 – Mid-term support, highlighting a potential strong base for the current uptrend.

MA(99): $3.51 – Long-term trend, which acts as a critical support level and signifies a strong floor in the event of a market correction.

Resistance Levels:

Resistance 1: $6.10 – The nearest resistance level, just above the recent 24h high. Breaking this level could signal continuation of the bullish trend.

Resistance 2: $6.50 – A psychological resistance and possible target if momentum sustains.

Entry & Stop-Loss Levels:

Entry Zone: Between $5.30 - $5.60 – This zone is above MA(7), near the short-term support, offering a good entry range while allowing for a potential dip in price.

Stop-Loss: $4.70 – Setting the stop-loss just below the recent 24h low to protect against downside risk if price pulls back significantly.

Indicator Analysis:

Bollinger Bands: Likely widening due to the recent price surge, indicating increased volatility. A breakout above the upper band may confirm bullish momentum.

MACD: Watch for positive divergence or a crossover to confirm continued upward movement.

RSI: If RSI nears 70 (overbought), it could indicate potential for a pullback. If it remains below 70, it may signal room for further gains.

Summary:

Trade Setup: Consider an entry at $5.30 - $5.60, targeting $6.10 and $6.50 as potential resistance levels.

Stop-Loss: At $4.70, set to limit downside risk.

Monitoring these levels can help investors manage risk while capitalizing on the current momentum in RAY/USDT.

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