$RAY has shown a modest price change of 0.615% within the last 24 hours, indicating some stability in a generally volatile market.

The recent high of 3.04 suggests a resistance level, while the low of 2.862 provides a solid support point.

However, the overall downtrend raises concerns about sustained upward momentum.

Bollinger Bands indicate potential volatility, with the upper band at 3.033 and the lower at 2.887, suggesting traders should remain cautious.

Bitcoin’s current undefined influence may contribute to RAY's volatility, as cryptos often move in tandem.

Traders might consider a short-term approach due to current market instability and bearish sentiment.

In summary, staying agile is essential, as macroeconomic factors could swiftly change the landscape.