RAYDIUM PRICE ANALYSIS & PREDICTION (February 18) – Ray Forms New Bearish Pattern, Sets For a Massive Crackdown
Advancing bearish this week, Ray posted a huge loss in the past hours and now poise for more drops as it forms a classical head-and-shoulder pattern. It currently approaches a key support level for a breakdown. Last week saw Ray through a recovery after dropping steadily in the preceding week. However, the momentum was short-lived due to a sharp rejection and the price fell back, closing near the opening price. That triggered a serious drop since yesterday and the price dipped below $5. It is approaching a crucial support level, which has been suppressing bearish pressure for the past three months. If this support holds well, we can anticipate a bounce back. However, things might change this time. Looking at the latest price actions, which appear more like a classical head-and-shoulder (H&S) pattern on the daily chart, Ray may collapse […]