$RAY is showing serious short-term strength, trading around $1.43 on the 15-minute chart after a sharp breakout. Price is comfortably above the 7/25/99 MAs, confirming a strong bullish structure. Volume also expanded aggressively during the move, showing genuine momentum.
But there’s one big warning: RSI(6) is around 85, meaning the short-term market is heavily overbought. After such a vertical move, a pullback or sideways consolidation would be completely normal.
$RAY recent LaunchLab expansion and growing Solana activity provide a strong fundamental backdrop, while buyback mechanics remain another positive factor.
Key levels: $1.35–$1.37 support, $1.47 resistance. A clean break above $1.47 could extend momentum, while losing $1.35 may trigger deeper profit-taking.
Don’t chase the pump. Manage risk. 📈
#Ray #OilRisesToHighestSinceJuly
But there’s one big warning: RSI(6) is around 85, meaning the short-term market is heavily overbought. After such a vertical move, a pullback or sideways consolidation would be completely normal.
$RAY recent LaunchLab expansion and growing Solana activity provide a strong fundamental backdrop, while buyback mechanics remain another positive factor.
Key levels: $1.35–$1.37 support, $1.47 resistance. A clean break above $1.47 could extend momentum, while losing $1.35 may trigger deeper profit-taking.
Don’t chase the pump. Manage risk. 📈
#Ray #OilRisesToHighestSinceJuly
