$RAY /USDT – BEARISH PRESSURE BUILDING BELOW KEY MA ZONE
Current Price: $3.30
24h Volume: $23.70M (RAY: 7.03M)
$RAY is facing selling pressure after rejecting near the $3.56 high. The price has broken below the short-term MA(7) at $3.36 and is now struggling to hold above the 25MA ($3.27). With declining volume (MA(5) and MA(10) dropping sharply), the momentum is weakening, suggesting a possible continuation to the downside. The broader structure also aligns with lower highs and lower lows forming.
24h Range: 3.200 – 3.566
Strategy:
Short Entry Zone: $3.30 – $3.36
TP1: $3.09
TP2: $2.81
SL: $3.57 (Above recent high)
Outlook:
If price fails to reclaim $3.36, sellers may take control. Watch for a break below $3.27 to confirm continuation. Bearish sentiment is growing as volume fades and price slips beneath short-term MAs.
