RAY Approaches $3 Pivotal Level Amid 13.96% Weekly Gain and Rising Volume

RAY is navigating a critical juncture in its weekly price action, with a key focus on the $3 level, which has historically acted as both support and resistance [1]. The token currently trades near $2.93, showing strong movement toward this pivotal price point. Analysts are closely watching whether the price can break above $3 and maintain its position, as doing so could open the door to a potential move toward $3.9–$4.0 [2].

Recent weekly trading volume has reached approximately 4.28 million, signaling sustained interest among market participants [1]. This is complemented by a 13.96% price gain on the weekly chart, reinforcing the bullish momentum. Such volume levels support the ongoing attempt to break out of the $3 resistance. However, observers note that a close below $2.85 would invalidate the breakout and increase the risk of a return to previous range lows [3].

The $3 level is particularly significant because it represents a historical boundary where RAY has previously consolidated and reversed direction. A successful breakout would not only confirm the strength of current price action but also set the stage for higher targets. Traders and analysts are monitoring weekly closes closely to determine whether this breakout is genuine or a temporary spike [2].

If RAY can hold above $3, it may continue upward toward the $3.9–$4.0 range, which would extend the current rally. On the other hand, a retreat below the $2.85 level could reignite bearish sentiment and lead to a retest of earlier price lows. This creates a high-stakes scenario where the immediate direction of the token depends on its ability to maintain a bullish stance.

Volume trends will remain a key metric in the coming weeks. Sustained higher volume could confirm the strength of the breakout and provide further validation of the move toward $3.9–$4.0. Conversely, if volume begins to wane, it could indicate a lack of follow-through and increase the likelihood of a pullback [1].

Price action near $3 will be a defining factor in the near-term trajectory of RAY. Investors should remain attentive to weekly developments, as they will play a crucial role in determining the token’s short-term performance and broader market positioning.

Source:

[1] RAY Targets $3 Breakout, Eyes $3.9–$4.0 as Weekly Momentum Strengthens (https://cryptonewsland.com/ray-targets-3-breakout-eyes-3-9-4-0-as-week/)