$RAY /USDT BEARISH BREAKDOWN IN PLAY – MINOR BOUNCE OFF 24H LOW
$RAY has faced strong selling pressure, breaking below key intraday supports and forming a steep downward channel on the 15-minute chart. Price crashed from above $3.10 to a low of $2.769 before slightly recovering to $2.834. Despite the bounce, momentum still favors the bears as no strong reversal has occurred.
Trade Setup (Short):
Entry: $2.840 - $2.870
Take Profit: $2.760
Stop Loss: $2.910
Market Outlook:
The lower highs and sharp breakdown indicate sustained bearish sentiment. A weak recovery bounce signals a likely continuation of the downtrend unless $2.90 is reclaimed with volume. If $2.76 breaks again, a deeper fall toward $2.70 is possible.
Risk Management:
Keep SL tight and manage size strictly. Re-enter only on rejection confirmation.
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