As many altcoins collapsed to a new multi-month low some days back, Ray remains firm above a vital support level as it aims to climb back. It remains trapped daily with no sign of a major move for the past few days. Ray’s overall market sentiments remain bullish on the macro level but the recent drops have caused a little setback in the bullish trend and the price is now looking weak on the day. Temporarily, the bleeding has stopped due to exhaustion but the bulls are yet to step back. Technically, its next move looks dicey as the price remains trapped around $5 for three days. Although it has managed to hold well above the vital $4 level during the recent meltdown. The market appears greenish this week but it is yet to resume buying after rejecting $5.8 on Tuesday. Today, the buyers are trying to push the price up but there’s not enough volume to fuel an increase. A successful push above Tuesday’s high should signal a change in the trading level before advancing higher. A full recovery to the main top of $8.7, tapped in late January, could trigger a break to a new high. In the opposite direction, Ray may lose momentum if the price breaks below the vital level mentioned above. RAY’s Key Level To Watch Source: Tradingview After holding the $4.15 level as support during last week’s crash, Ray tried to slip back but found support at $4.78 this week. If these supports no longer hold in the future, the nearest level to watch for a dip is $3.43. The immediate resistance to watch above Tuesday’s high is $6.6 along with $7.92. A flip through all these resistance levels should bring us to the mentioned top before surging to $10 and potentially $15 in no time. Key Resistance Levels: $5.8, $6.6, $7.92 Key Support Levels: $4.78, $4.15, $3.43 Spot Price: $5.3 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: sinenkiy/ 123RF // Image Effects by Colorcinch