Technical analysis by taika808 about Symbol RAY: Buy recommendation (8/13/2025)

RAY appears primed for a potential rocket launch, having broken above a major descending trendline that has been suppressing price action since early 2025. The breakout is accompanied by strong bullish momentum and the RSI showing renewed strength after months of consolidation. Key Technical Signals: • Clean break above long-term resistance trendline • Price trading above current support zone around $3.14 • RSI indicating bullish momentum building • Volume profile suggests accumulation phase complete Potential Targets: • First resistance zone: $5.50-$6.00 (marked red box) • Extended target: $10.00+ following the projected path Risk Considerations: A failure to hold above the broken trendline (around $2.80-$3.00) would invalidate this bullish setup.