$RAY 🚀 BULLISH MOMENTUM 🚀

Chart Overview

The chart reveals RAY potentially completing a fifth and final Elliott wave—hinting at a near-term high or reversal scenario. Price has recently broken above a declining resistance trendline and bounced from the $4.35 support area, suggesting bullish momentum is building. A key resistance zone lies around the $5.60 level.

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Fibonacci Setup

Let’s define a swing low at ~$4.35 and a swing high at ~$5.60 (proximate resistance):

Fibonacci Level Price (USDT)

38.2% Retracement ~$4.95

50.0% Retracement ~$4.98

61.8% Retracement ~$5.01

100% (Breakout Level) ~$5.60

127.2% Extension ~$5.90–$6.00

161.8% Extension ~$6.40–$6.50

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RAY Trading Strategy

Pullback Long (Lower-Risk Entry)

Entry Zone: $4.95 – $5.00 (near 38.2–61.8% Fib)

Stop-Loss: Below $4.80

Targets:

T1: $5.60 (swing high / breakout)

T2: $5.90–$6.00 (127.2% extension)

T3: $6.40–$6.50 (161.8% extension)

Confirmation & Risk Indicators

Use volume surges and momentum indicators such as RSI/MACD to validate entries.

Keep position sizing small, risking only 1–2% of trading capital per setup for prudent risk management.

Combine Fibonacci levels with price action (candlestick patterns, trendlines) for higher accuracy.

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