⚡ +16% in one day and the daily RSI is at 86.7. Sounds scary? Here's why I'm not fading it.
Raydium (RAY) at $1.69 is in a parabolic move. The 4H SMA7 ($1.62) is acting as a trailing support, and the daily chart shows price well above ALL moving averages — SMA7, SMA25, even SMA99 ($0.72). That's a full bullish stack.
Yes, the daily RSI is overbought at 86.7. But in momentum plays like this, RSI can stay overbought for days. The 4H RSI at 70.3 is actually cooling off from higher levels — that's a healthy consolidation within the trend.
📊 Trade Plan (LONG — momentum play):
• Entry: $1.615 – $1.756 (buy the 4H SMA7 dip or the breakout above $1.76)
• Stop Loss: $1.404 (below the 4H structure — if price drops here, the momentum is dead)
• TP1: $1.809 | TP2: $1.820 | TP3: $1.888
• Confidence: 82% — high conviction on the trend, but tight risk management is non-negotiable
Volume ratio: 1.74x average. This isn't a low-liquidity pump — real money is flowing in.
⚠️ Overbought ≠ sell signal. But it does mean: smaller position, tighter stop.
🎯 RAY to $2 or back to $1? What's your read?
#RAY #Solana #DYOR
⚠️ Disclaimer: Personal analysis, not financial advice. Momentum trades carry high risk — size accordingly.