RAY the end or just the start?

To first look at Ray we can start with RAYUSDT and move to RAYSOL and RAY BTC.


RAY is not sitting below all of the moving averages. Not an ideal position.


So far MACD cross down does not mean much as the week has not ended yet. Ideally to stay bullish it need to end the week not crossed down.


Stoch RSI cross down


Below 0.015 there is elevated risk that RAYSOL puts in a lower local low.


RAYBTC also not looking great.

With these charts it's pretty hard to make the case why I am long RAY. Let's try some long term fundamentals and see if that is a better picture.

Ray is all about the saying own the shovels. As an exchange the better Solana does the better Ray likely does. It's a widely known DEX it's weaknesses are Solana not getting trade volumes again. Competitors where other DEX are better. Also DEX aggregators have risks the volume does not get sent to Ray.


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