RAY/USDT It required break the supply to continue upward!💎 Paradisers, #RAY is indeed showing promising movements that merit close observation.
💎 Currently, RAY is encountering a supply area ranging from 1.88 to 1.97. In the previous attempt to break above this supply zone, RAY experienced a fakeout, and the current price action suggests rejection from this supply area.
💎 Consequently, there's a likelihood that the price will retest the demand zone around 1.66 to generate new momentum for another attempt to break above the supply area.
💎 However, if RAY manages to break above the supply area without a retest, it could signal significant upward movement, potentially leading to the attainment of our target area.
💎 On the flip side, if RAY fails to bounce off the demand area and even breaks below it, the price may continue downward, revisiting the Bullish Order Block (OB) area. Historical data indicates that RAY has consistently bounced when reaching this zone, and a similar scenario might unfold if RAY revisits the OB+.
💎 It's crucial to monitor RAY's price action closely, particularly its ability to hold above key support and resistance levels. A breakdown below the demand zone, confirmed by a daily candle close below it, would suggest bearish momentum, potentially leading to further downward movement.
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