RAY Technical Analysis Feb 6

RAY, with a 14.81% drop in the last 24 hours, is approaching critical supports at $0.58; RSI at 22.88 shows oversold bounce potential but downtrend dominates.

Current Price Position and Critical Levels

RAY is currently trading at $0.58 and is within the overall downtrend. The price tested the $0.50-$0.69 range over the last 24 hours, with volume remaining limited at $5.85M. Unable to hold above EMA20 ($0.84), the price is under pressure from Supertrend’s bearish signal. Multi-timeframe (MTF) analysis identified 7 strong levels: 1D with 1 support/2 resistances, 3D with 1S/1R, 1W with 3S/2R confluence. These levels are reinforced by order blocks, liquidity pools, and past tests; the price is currently heading toward the primary support at $0.5010, and a breakdown could open downside targets around $0.45.

Support Levels: Buyer Zones

Primary Support

The $0.5010 level (score: 79/100) stands out as RAY’s most critical buyer zone. This level coincides with a strong order block on the 1W timeframe – a volume explosion was observed during the October 2025 bottom test, where the price rallied 150% from here. It is also confirmed as a demand zone on the 3D chart, with a 72% rejection rate over the last 3 tests. It is reinforced by proximity to EMA50 ($0.52) confluence and Fibonacci 0.618 retracement. Oversold RSI (22.88) could trigger buyers here; invalidation occurs on a break below $0.48, signaling a 1W structure break.

Secondary Support and Stop Levels

Secondary supports in the $0.52-$0.53 band (1D EMA50 and 1W lows); this is a liquidity collection area where bounces occurred after past stop hunts. Deeper at $0.45 (1W order block), it represents the high-volume 2025 bottom – POC (Point of Control) on volume profile is here. Stop level below $0.48; a break extends downside target to $0.40 (Fib 1.0 extension). These levels contain buyers with 65% reliability via MTF confluence.

Resistance Levels: Seller Zones

Near-Term Resistances

$0.6197 (score: 85/100), the strongest near-term seller zone. A supply zone on 1D timeframe, rejected twice in the last 48 hours – volume spikes confirm seller entries. This is a liquidity grab point before approaching EMA20 ($0.84); it coincides with a resistance cluster on 3D. An upside break opens $0.65, but it’s challenging under Supertrend bearish pressure.

Main Resistance and Targets

Main resistance at $0.7177 (score: 61/100), a 1W supply block and 2025 swing high. It showed an 80% failure rate in past breakouts; weak due to volume divergence. Upside target $1.1260 (Fib extension, R/R 1:3 potential), but must surpass EMA100 ($0.95) confluence. Invalidation is a bullish flip on breakout above $0.75.

Liquidity Map and Big Players

Big players (smart money) may be accumulating long positions in the $0.5010 support liquidity pool – stop losses at $0.48, reversal expected after liquidity sweep. High sell-side liquidity between $0.6197-$0.7177 above; downward imbalance filling. 1W imbalance at $0.55-$0.60 remains unfilled, price could be pulled there. Volume analysis shows positive delta around $0.50 (buyer dominance), signaling institutional entry.

Bitcoin Correlation

BTC in downtrend at $65,144 (-8.11%), Supertrend bearish; altcoins like RAY have 0.85% correlation to BTC. If BTC breaks $62,910 support (near-term), RAY accelerates to $0.50 – BTC to $60,000 triggers altcoin liquidity cascade. Conversely, BTC breaking $65,881 resistance could see RAY relief rally to $0.62. Rising BTC dominance cautions alts; monitor BTC levels for RAY Spot Analysis and RAY Futures Analysis.

Trading Plan and Level-Based Strategy

Level-based outlook: Hold above $0.5010 targets bounce to $0.6197 (R/R 1:2.5); breakdown shorts to $0.45 downside. Wait for RSI divergence, enter on MTF confluence. Long: $0.5010-$0.5050 buy zone, targets $0.6197/$0.7177, stop $0.48. Short: $0.6197 rejection, targets $0.5010/$0.45, stop $0.65. This outlook is price action based – risk management essential, position sizing 1-2%.