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Wednesday, October 5, 2022
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    HomeMarketRaydium Springs Up From Underwater, Could This Be A Ray Of Hope?

    Raydium Springs Up From Underwater, Could This Be A Ray Of Hope?

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    The worth of Raydium (RAY) drops to $0.7 towards Tether (USDT) from its all-time excessive of $15 because it eyes to bounce from its low. Regardless of the reduction bounce throughout most crypto belongings, the worth of Raydium (RAY) has continued to stay dormant at its all-time low. (Knowledge from Binance)

    Raydium (RAY) Value Evaluation On The Weekly Chart 

    The worth of RAY crashed to its low of $0.7 by over 95% from a excessive of $15 after seeing a number of rejections from areas of resistance. 

    RAY has proven little bullish strikes on the weekly chart, as this might recommend a bullish transfer may occur in no distant time. With bulls shopping for RAY at this valued value, we may see the worth going to $3.5, appearing as the subsequent important resistance for RAY’s value.

    If there are not any purchase orders, we may see the worth of RAY vary between the values of $0.55-$0.7 as these costs act as assist areas.

    If the worth of RAY maintains its present construction, we may retest the resistance at $2.5-$3.5, relying on the purchase quantity orders. 

    Weekly resistance for the worth of RAY – $0.25-$0.35.

    Weekly assist for the worth of RAY – $0.55-$0.7.

    Value Evaluation Of RAY On The Every day (1D) Chart

    Every day RAY Value Chart | Supply: RAYUSDT On Tradingview.com

    The worth of RAY discovered its day by day low at $0.6 and shortly bounced off the world the place it has fashioned good assist. RAY’s value moved to a area of $0.7 however couldn’t maintain its motion because it continued to vary. 

    Regardless of exhibiting an amazing momentum signal, RAY is buying and selling at $0.714 beneath the 50 and 200 Exponential Shifting Averages (EMA), appearing as resistance for the worth of RAY to interrupt larger. 

    The 50 and 200 EMA correspond to costs of $0.8 and $2.2, respectively; for RAY to pattern larger, it should break by way of this area, which acts as resistance for RAY costs.

    A break and shut above the 50-day transferring common would point out a short-term reduction bounce, whereas a detailed above the 200-day transferring common would point out a downtrend reversal to the upside of the present bearish pattern.

    If the worth of RAY fails to interrupt the resistance at $0.8, it could fall to the decrease area for value accumulation at $0.6.

    Every day (1D) resistance for RAY value – $0.8, $2.2.

    Every day (1D) assist for RAY value – $0.6.

    Value Evaluation Of RAY On The 4-Hourly (4H) Chart

    4-Hourly RAY Value Chart | Supply: RAYUSDT On Tradingview.com

    The worth of RAY on the 4H chart has continued to look bullish, holding above the assist space at $0.7, similar to the 50 EMA on the 4H chart with extra purchase orders on this area.

    RAY fashioned a bullish divergence on the 4H chart as the worth was oversold; we may see the worth of RAY going to the resistance at $0.8.

    The Relative Power Index (RSI) for RAY on the 4H chart is above 60, indicating good purchase quantity for RAY value.

    4-Hourly (4H) resistance for RAY value – $0.8.

    4-Hourly (4H) assist for RAY value – $0.68.

    Featured Picture From Coingape, Charts From TradingView.com 

     



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