RAY is testing the crucial $3 resistance, which has acted as both support and resistance historically.
Weekly trading volume of 4.28M and a 13.96% gain highlight bullish momentum toward $3.
Sustaining above $3 could target $3.9–$4.0, while a drop below $2.85 risks revisiting prior range lows.
On the weekly chart, $RAY is around $2.93, showing good movement towards the $3 important price level. This zone has served as support and resistance in the past, so it is a critical point for price action. The price action during the recent past shows that $RAY is attempting to break above this level, which could be laying the foundation for higher action. But the price must hold this breakout so that it doesn't turn back down to lower levels.
RAY Challenges Pivotal Resistance as Volume Backs Breakout Attempt
The $3 mark stands as a pivotal resistance that $RAY has tested multiple times before. Previously, this level acted as support in some periods and resistance in others. Currently, $RAY is pushing above this barrier, suggesting growing bullish momentum. Notably, if the price holds above $3, the path toward the $3.9 to $4.0 range appears possible.
Traders will be watching this closely to confirm if the breakout sustains. On the other hand, a close below $2.85 would invalidate the breakout and increase the risk of falling back into the prior range lows.
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Weekly volume on $RAY currently measures approximately 4.28 million, reflecting steady trading interest. The price is showing a 13.96% gain on this timeframe, highlighting recent strength. This volume supports the move toward the $3 key level, reinforcing the breakout attempt. Monitoring volume will remain important in the coming weeks, as sustained higher volume can confirm strength. Conversely, declining volume may indicate a lack of follow-through.
RAY at Key Level as Weekly Close Looms
Price action near the $3 level will be crucial in the future. If $RAY can stay above $3, future upside targets are approximately $3.9 to $4.0. Such an increase would be an extension of recent price moves. Breaking below $3 may, however, witness a descent back below $2.85, which has risks to the downside.
This is a level that resides on a boundary where the price would experience the retest of its previous consolidation range. Investors and analysts will monitor weekly closes tightly to ascertain whether the breakout is real.
On the whole, the price band of $3 continues to feature prominently in the weekly price structure of $RAY. Prices and volumes following this area will dictate the short-term condition. At this point, the situation around $RAY remains significant as it will probably determine its future within the next few weeks.
