⚖️ $RAY /USDT: Oversold Bounce or Further Breakdown?
🔍 Market Sentiment:
🟥 Bearish
🪙 Raydium ($RAY) is facing strong selling pressure, with indicators suggesting oversold conditions but no confirmed reversal yet:
▫️ RSI(14): 12.52 → Extreme oversold territory
▫️ CCI: -285.40 → High selling momentum
▫️ Price near Lower Bollinger Band ($2.59) → Possible bounce zone
▫️ 24h Change: -29.93% | 7D Change: -39.27% → Extended downside trend
🎯 Trading Idea: Mean-Reversion Setup
🟩 Potential Long Entry (Oversold Reversal Play)
▫️ Buy Zone: $2.55 - $2.65 (near Lower Bollinger Band)
▫️ Stop-Loss: $2.45 (below key support)
▫️ Take Profit: $3.60 - $4.05 (mid Bollinger Band & SMA(50) target)
▫️ Risk-Reward Ratio: 1:3
✔️ Confirmation Before Entering:
▫️ RSI breaking above 20 → Early recovery signal
▫️ Volume increase on bullish candles
▫️ MACD crossover or MFI uptick
🟥 Potential Short Entry (Continuation Play)
▫️ Sell Zone: $3.50 - $3.60 (if price rejects mid Bollinger Band)
▫️ Stop-Loss: $3.75 (above resistance)
▫️ Take Profit: $2.60 - $2.70 (if selling pressure resumes)
▫️ Risk-Reward Ratio: 1:3
✔️ Confirmation Before Shorting:
▫️ Rejection from mid Bollinger Band (~$3.60)
▫️ Weak volume on bounce attempts
▫️ RSI struggling below 30
📊 Key Metrics:
💲 Price: $2.94
⚖ H/L: $4.25 | $2.83
🟩 1H Change: +0.50%
🟥 24H Change: -29.93%
🟥 7D Change: -39.27%
🟥 30D Change: -60.12%
⛰️ ATH: $16.83 (-82.93%)
📊 24H Volume: $410.61M
💰 Market Cap: $855.01M
💭 Final Thoughts:
$RAY /USDT is deeply oversold, but sellers still control the trend. A bounce from $2.59 - $2.65 could trigger short-term relief, but traders should wait for confirmation signals before entering any positions.
📢 Will $RAY bounce from here or continue its decline? Vote and drop your thoughts below! 👇
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