RAY has emerged as a top-performing cryptocurrency in the current market, having surged by 20% within a 24-hour period and continuing a strong upward trend that began back in early April. The altcoin's price has reached a three-month high of $3.70 and positive indicators suggest that further price increases are likely.

Over the past seven days, the RAY token has shown a consistent upward movement, with its price increasing by almost 60%. This rise has propelled it to $3.70, which marks a three-month high. Investor confidence in RAY has been growing, with the token trading well above its 20-day Exponential Moving Average (EMA) on the daily chart. The 20-day EMA acts as a supportive level beneath RAY's price, preventing significant declines.

The token's Super Trend indicator, positioned below its price, also indicates a bullish trend. When the price of an asset is above the Super Trend line, it signifies a bullish market with buying pressure outweighing selling pressure. This suggests a likely continued uptrend if buying momentum is sustained.

If RAY continues its positive momentum, it could potentially reach $4.18. However, if profit-taking resumes among traders, the bullish trend may be disrupted, causing the price to drop back to $3.11 and potentially even further to $2.88 if the support at that level is breached.