$RAY / USDT – Sharp Downtrend – Short Opportunity? 🚨📉
$RAY / USDT is currently trading at $2.416, experiencing a significant drop of -9.51% today. The 4-hour chart clearly illustrates a strong bearish trend, with the price breaking below previous support levels.
📉 Potential Short Trade Setup (Always conduct your own analysis and manage risk diligently):
* Potential Entry Price: Consider entering around the current price of $2.416 or on any potential small retracements.
* Potential Take Profit (TP): Look at previous lows or establish a target based on your risk/reward ratio, perhaps around $2.35 or lower.
* Potential Stop Loss (SL): Place your stop loss above recent swing highs, maybe around $2.47, to protect against unexpected reversals.
⚠️ Outlook:
The strong downward momentum and significant price drop suggest continued bearish pressure. Monitor volume for confirmation and be aware of potential oversold conditions. Trade with caution and implement strict risk management.
RAYUSDT · Binance
2.415 -0.062 (-2.50%) (based on the last 4 hours)
