The post RAY Technical Analysis Mar 22 appeared on BitcoinEthereumNews.com.

RAY’s 24-hour trading volume remains at the $540,000 level, showing low participation; this indicates that despite the downtrend, selling pressure is weak and carries potential accumulation signals. Market sentiment is indecisive due to volume deficiency but supported by MACD positivity. Volume Profile and Market Participation RAY’s current volume profile shows quite low market participation with a 24-hour trading volume of $540,391. This level lags 40-50% behind recent weekly averages and reflects the stagnation in the overall crypto market. Low volume indicates no strong selling conviction despite the price declining -3.70% at the $0.60 level. For a healthy downtrend, volume is expected to increase, but here price decline is observed alongside volume decrease, signaling weak selling pressure. From a market participation perspective, retail investors are on the sidelines. In volume profile analysis, the POC (Point of Control) level concentrates in the $0.58-$0.62 range; volume nodes in this range form strong support. If volume picks up, these nodes could create buying opportunities. Across multiple timeframes (1D/3D/1W), 11 strong levels were identified: 1D with 1 support/4 resistances, 3D with 2S/2R, 1W with 1S/3R distribution. This points to a resistance-heavy profile, but with low volume, these resistances could break without testing. Accumulation or Distribution? Accumulation Signals Accumulation signals are evident with volume decreasing despite price decline. In healthy accumulation, institutional players collect positions at low-volume bottoms. RAY’s RSI at 44.29 is neutral while MACD histogram is positive; this price-volume divergence favors accumulation. The $0.5010 support (61/100 score) aligns with a volume node, where a potential buy wall could form. Although no volume increase was seen in recent upward moves, the current low volume may signal the final stages of the decline. If we look at RAY Spot Analysis data, there is an increase in long-term holding wallets in the spot market; this is evidence…

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Filed under: News - @ March 22, 2026 1:17 am