【See the Drop】
RAY is currently quoted at 1.271; in the past 24 hours it’s down 8.41%. It is still up 13.58% over the past 7 days. The intraday range is 1.254–1.442, with a 15.0% amplitude.
【Market View】
RAY is down 8.41% over the past 24 hours. After rebounding toward the 1.442 area, it was pushed back down, and there’s a high density of trapped long positions overhead.
There are no signs yet that short-term weakness has been reversed; selling pressure is still being continuously released.
Compared with BTC’s -2.66%, RAY’s relative strength is at the bottom—belonging to the group that the market has effectively abandoned.
Near term, the outlook is bearish.
【Bearish Rationale】
After sliding from 1.442 down to around 1.271, the short-term focus is still shifting downward.
Price has been trading near 1.254, where the balance between buyers and sellers clearly favors the seller side.
A drop of 8.41% doesn’t mean it’s reached the bottom—before catching the falling knife, first check the volume and momentum.
Once 1.254 is broken, it will likely continue lower to find support; rebound toward the 1.442 area faces heavy resistance.
$RAY #RAY
RAY is currently quoted at 1.271; in the past 24 hours it’s down 8.41%. It is still up 13.58% over the past 7 days. The intraday range is 1.254–1.442, with a 15.0% amplitude.
【Market View】
RAY is down 8.41% over the past 24 hours. After rebounding toward the 1.442 area, it was pushed back down, and there’s a high density of trapped long positions overhead.
There are no signs yet that short-term weakness has been reversed; selling pressure is still being continuously released.
Compared with BTC’s -2.66%, RAY’s relative strength is at the bottom—belonging to the group that the market has effectively abandoned.
Near term, the outlook is bearish.
【Bearish Rationale】
After sliding from 1.442 down to around 1.271, the short-term focus is still shifting downward.
Price has been trading near 1.254, where the balance between buyers and sellers clearly favors the seller side.
A drop of 8.41% doesn’t mean it’s reached the bottom—before catching the falling knife, first check the volume and momentum.
Once 1.254 is broken, it will likely continue lower to find support; rebound toward the 1.442 area faces heavy resistance.
$RAY #RAY
