RAYDIUM PRICE ANALYSIS & PREDICTION (February 24) – Ray Dumps to a Three-Month Low Following a 30% Daily Drop, What Happened?
Ray's bearish pattern has finally played out as expected following a colossal drop to a three-month low today. It appeared extremely bearish on the daily chart due to a double-digit loss. As recently spotted on the daily chart, Ray formed a head-and-shoulder (H&S) pattern as it slightly broke down a crucial support level of $4.15 during last week's trading. This support marked the neckline of this pattern but unfortunately failed to break down. The bulls defended it well and the price bounced back to $5. While the bounce was short-lived due to a rejection, the bears stepped back and mounted pressure, closing last week at loss. Starting the first day of the week on a sad note, Ray's supply increased and the price dumped heavily to the $3 level today. This drop has generated a lot of fear and panic […]
