$RAY USDT

RAY/USDT (Raydium) Spot

Observations:

Current Price: $2.582 (-13.73% drop).
Support Levels:

$2.50 (immediate support, could act as a bounce level).
$2.20 - $2.30 (historical strong support).


Resistance Levels:

$3.00 (previous support, now resistance).
$3.50 - $4.00 (strong resistance zones).


RSI Indicator: ~65.92 (approaching overbought levels).
Volume: 30.58M, which is significantly higher than the 8.39M average, indicating strong selling or accumulation.


Trading Strategies (Spot Trading)
1. Short-Term Bounce Play (Scalping)

Scenario: If $2.50 holds, a short-term bounce to $2.80 - $3.00 is possible.
Entry: Buy near $2.50 - $2.55.
Exit: $2.80 - $3.00.
Stop-Loss: Below $2.45.
Risk-Reward: 1:2 (Risk 5%, Reward 10-15%).

2. Breakout Trade

Scenario: If price breaks and holds above $3.00, it could rally toward $3.50 - $4.00.
Entry: Buy on confirmation above $3.00.
Exit: $3.50 - $4.00.
Stop-Loss: Below $2.90.
Risk-Reward: 1:3.

3. Buying the Dip (Mid-Term Hold)

Scenario: If price drops further, strong support is around $2.20 - $2.30.
Entry: Buy at $2.20 - $2.30.
Exit: $3.00 - $3.50.
Stop-Loss: Below $2.10.
Risk-Reward: 1:4.


Risk Management & Additional Tips

✅ Monitor RSI: If RSI crosses 70+, price might be overbought, leading to a pullback.

✅ Volume Confirmation: A high volume breakout above $3.00 strengthens a bullish trend.

✅ Set Stop-Losses: Avoid unnecessary risks, especially in volatile markets.

✅ Check Market Sentiment & News: Any major listing, partnerships, or ecosystem updates for Raydium (RAY) could influence price action.