Future Outlook for #RAYUSDT Cryptocurrency (United States of America) on the Weekly Timeframe

🚀 Correction followed by a breakout

After the completion of the impulsive wave (1)/(A), which experienced a strong rise, the price is currently moving within a corrective phase and approaching the lower boundary of the price channel. The 0.663 level may represent a reversal zone for the start of a new bullish wave.

👉 Supporting Bullish Expectations

* The corrective wave may form as an zigzag pattern, and it appears to be nearing the completion of all its internal waves.

* The correction is confined within a price channel.

* The price has reached the area of the fourth wave, achieving a sufficient corrective depth compared to the length of the previous upward wave.

💡 Important Notes

* Accurately identifying the formed pattern is a crucial step to confirm the trend.

* The main level of the pattern represents a critical point:

* Breaking this level will enable the price to reach a new high above 8.700 at a minimum, preferably reaching 43.985.

Please note that recording a new lower low will invalidate the bullish scenario.
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