$RAY

/USDT Technical Analysis & Trade Signal

Current Price: $3.11 (Up +10.24%)

Technical Indicators:

RSI (Relative Strength Index): Currently in the 60-70 range, indicating strong bullish momentum but nearing overbought territory.

EMA (Exponential Moving Average): The price is above the 50 EMA, showing a bullish trend.

MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, confirming a strong upward momentum.

Support & Resistance Levels:

Support Level 1: $2.820 (24h Low)

Support Level 2: $2.974 (Depth market support)

Resistance Level 1: $3.124 (Recent high, key resistance)

Resistance Level 2: $3.20 (Potential breakout zone)

Trade Signal (Bullish Bias):

Entry Point: Consider entering at $3.10 or lower for an optimal entry.

Target Levels:

Target 1: $3.20 (first resistance)

Target 2: $3.40 (higher resistance, optimistic move)

Target 3: $3.50 (extended upside target)

Stop Loss: $2.85 (just below recent support)

Trade Momentum:

The market shows strong bullish momentum based on positive price action and favorable indicators (EMA & MACD). However, it is nearing overbought conditions, so caution is advised. If the price consolidates around $3.10, a further breakout towards $3.20 or $3.40 is likely.

Risk Management is essential, especially if the price falls below key support levels. Keep an eye on the 1-hour and 4-hour charts for any signs of reversal.

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