RAY Closes Week Bearishly at $1.01 — Downtrend Intact, Watch $0.9630 Support and $1.0742 Resistance

RAY closed the weekly candle with a bearish bias, stabilizing around $1.01. The technical picture remains dominated by a prevailing downtrend, with sellers keeping pressure on the market. Two levels stand out as critical for short-term direction: a downside structural support at $0.9630 and resistance near $1.0742. Traders should also monitor the strong correlation with Bitcoin, which has been exerting additional directional pressure on RAY’s price action.

From a technical standpoint, the weekly close below key short-term moving averages suggests momentum favors the bears. Volume during the week failed to show meaningful buying conviction, which increases the probability of further downside continuation while volatility remains compressed around the current range. Key momentum indicators such as RSI and MACD on daily charts point to neutral-to-bearish signals, indicating that a decisive bullish reversal is unlikely until price reclaims higher resistances with volume confirmation.

Immediate support is the key pivot at $0.9630. A decisive break and weekly close below this level could open a path toward lower targets near the psychological and technical cluster around $0.80–$0.90. Conversely, if buyers defend the $0.9630 area and push for a weekly recovery, the first meaningful resistance to watch is $1.0742. A clean breakout above $1.0742 with increased volume would invalidate the near-term bearish bias and target higher levels such as $1.20 and the 50-day averages.

Correlation with Bitcoin remains a crucial macro factor. When Bitcoin shows weakness, altcoins like RAY often face amplified downside due to liquidity rotation and risk-off behavior across crypto markets. Therefore, traders should not view RAY in isolation: keep an eye on BTC/USD momentum, macro liquidity conditions, and news flows that affect market-wide sentiment.

Risk management is essential in the present environment. For short-term traders, consider placing conservative stop-loss orders above failed breakout points and use position sizing that limits downside exposure should the $0.9630 support give way. For longer-term holders, accumulation may be considered only if there is a confirmed trend change — defined by reclaiming $1.0742 on strong volume and sustained closes above key moving averages.

Two plausible scenarios dominate the roadmap: a bearish continuation scenario where failure at $0.9630 results in a test of lower structural support, and a bullish recovery scenario where buyers push past $1.0742 and aim for higher resistance bands. Market participants should be ready to adapt strategy quickly to whichever directional bias gains confirmation.

Actionable takeaways: watch the $0.9630 and $1.0742 levels closely, monitor Bitcoin for macro guidance, require volume confirmation for breakouts, and apply strict risk management. With the current weekly close, the downtrend remains intact until proven otherwise.