Technical Analysis for $RAY : RAY is sitting just below the 1hour resistance and above the Bollinger upper band. EMA9200 are all bullish, but RSI 64 and Stochastic K 80 signal overbought conditions. ADX 34 shows a strong trend, while the orderbook shows a -19.7% askbid imbalance, hinting at downside pressure. A break below 2.34 with confirming volume could trigger a move toward the 2.18
Market Context: BTC is in a bearish 24h move and the broader market is broadly negative, with 90% of assets red. This adds downside