$RAY /USDT SHOWING STRONG BEARISH PRESSURE AFTER FAILED ATTEMPT ABOVE $2.57
$RAY has dropped sharply by over 8% today, slipping from its 24h high of $2.577 to a current low near $2.307. This steep decline reflects continued bearish momentum as bulls failed to hold key resistance. Price is now hovering around $2.33, just above critical support, and downside pressure remains active on the intraday chart.
Technical Breakdown
Major Resistance: $2.57
Current Price: $2.33
Key Support Zone: $2.30 – if broken, could open path toward $2.10
Momentum: Bearish, with no signs of reversal as volume spikes on red candles
Market Sentiment: Negative, with 7-day and 30-day losses confirming ongoing downtrend
What to Watch Next:
If RAY breaks below $2.30 support with volume confirmation, expect acceleration toward lower zones. A bounce would only be meaningful if price reclaims $2.45 with strength. Short sellers remain in control until bullish structure is reclaimed.
Risk Management Tip:
Avoid chasing any bounce unless it clears resistance with volume. Use tight stop-losses near the $2.30 invalidation level if trading counter-trend.
Don’t let this fakeout trap you — trade smart, follow the trend, and protect your capital!
Sell smart — don’t chase green candles when the trend is turning red!