RAY Reclaims $0.80 After a Sharp Liquidity Sweep: Is $0.833 the Next 24-Hour Target?

RAY 24-hour technical outlook — bullish recovery, but entering below resistance is preferred

Data context: RAY is trading at $0.8084 as of 2026-08-31 21:00 UTC. The daily series shows a strong August advance from the $0.60–$0.62 accumulation area into the $0.80s, while the hourly series shows a sharp late-August washout to approximately $0.7593 followed by a full recovery back to $0.8084.

1. Higher-timeframe trend structure

• The broader structure turned constructive after the August base around $0.60–$0.62. Price then produced a sequence of higher highs and higher lows: $0.6495, $0.6911, $0.7433, $0.7839, $0.8037, and $0.8328.
• The pullback from the August 27 high near $0.8477 reached $0.7720 on August 29, then the intraday selloff extended briefly to roughly $0.7593. Importantly, this lower move was rejected rather than accepted: the August 31 daily candle opened near $0.7693 and recovered to $0.8084.
• This is a bullish reclaim of the $0.80 area. It suggests the recent weakness was primarily a liquidity sweep/profit-taking event rather than a confirmed daily trend reversal.

2. Candlestick and price-action analysis

• The August 31 daily candle is strongly positive, recovering approximately 5.1% from its open near $0.7693 to $0.8084. Its low around $0.7682 establishes a clear rejection wick below the $0.77 region.
• Hourly price action confirms the recovery: after the $0.7593 flush, RAY formed a sequence of higher intraday lows around $0.7673, $0.7757, $0.7828, $0.7933, and $0.8033.
• The move from $0.7933 to the $0.8160 intraday high was followed by only a shallow pullback, with price holding around $0.8033–$0.8084. That behavior indicates buyers are still defending higher levels.
• The final hourly candles are consolidating immediately below resistance rather than selling off sharply. This is typically more constructive than a rapid rejection, although a breakout still requires confirmation.

3. Support and resistance map

Immediate support

• $0.8030–$0.8000: Current intraday support, recent hourly consolidation floor, and psychologically important round-number zone.
• $0.7930–$0.7940: Earlier hourly breakout pivot; loss of this area would weaken the immediate bullish setup.
• $0.7800–$0.7720: Major recovery/base zone. This includes the August 29 daily low area and the first post-flush recovery levels.
• $0.7590–$0.7680: High-conviction invalidation region, defined by the most recent liquidation low and August 31 daily low.

Immediate resistance

• $0.8100–$0.8160: Current local supply zone and the latest hourly swing high.
• $0.8328–$0.8400: Major overhead resistance from the August 27 close/high region and a likely profit-taking area.
• $0.8464–$0.8477: August peak; a move here would represent a full retest of the recent range high.

4. Momentum indicators and mean-reversion risk

• The August rally has been rapid, so daily momentum is elevated and likely in an overbought-to-high-RSI condition. This cautions against chasing a market buy directly into $0.81–$0.816 resistance.
• However, elevated momentum in a strong rebound is not automatically bearish. In trending crypto assets, overbought readings can remain elevated while price continues toward the next resistance band.
• The current setup therefore favors a buy-the-retest approach rather than a momentum entry at the local high. A pullback toward $0.80 offers more favorable risk/reward while preserving participation in the rebound.

5. Volume and participation

• The August rally was supported by materially higher daily volume, notably during the move from $0.65 through $0.78 and again during the advance into the mid-$0.80s. This confirms that the wider August move had real participation.
• August 31 recovery volume is meaningful relative to the low-volume mid-August consolidation period, supporting the interpretation of renewed demand.
• Hourly volume is uneven in the supplied feed, so it should not be treated as a precise intraday confirmation metric. Still, the price response after the $0.7593 selloff is clearly positive: the decline was bought aggressively and price reclaimed nearly the entire move.

6. Pattern interpretation

• The late-August decline resembles a bullish shakeout/liquidity sweep beneath prior short-term support, followed by a V-shaped recovery.
• Price is now compressing below $0.81–$0.816. If support near $0.80 holds, this can develop into a continuation structure targeting the prior $0.833–$0.848 swing-high zone.
• A sustained hourly close below $0.793 would invalidate the immediate continuation thesis and raise the probability of a retracement toward $0.78.

7. 24-hour forecast

Base case, moderately bullish: RAY is likely to retest the $0.810–$0.816 resistance band and, if that resistance is absorbed, extend toward $0.830–$0.833 over the next 24 hours. The expected path is likely volatile: a dip into $0.80–$0.803 before another upside attempt is plausible.

Bullish extension: A clean break and hold above $0.816 could accelerate toward $0.833–$0.840, with $0.847 remaining the larger resistance target.

Bearish alternative: Rejection from $0.81 combined with a loss of $0.793 would shift the short-term outlook bearish and expose $0.780–$0.772. This is why the preferred long entry is below the current resistance rather than at the exact market price.

Conclusion

The prevailing August trend remains upward, the $0.759–$0.768 washout was strongly rejected, and hourly structure has recovered into higher lows. Despite overbought daily momentum and nearby resistance, the better 24-hour probability favors upside continuation provided $0.80 holds. The optimal execution is a limit long near the intraday support/retest zone rather than chasing at $0.8084.