The daily close rejected RAY’s late rebound.
$RAY was 2.5210 at 23:00 Beirut, but the 7 October daily candle closed at 2.4678—below the 2.50 level that needed to hold. By 07:05, price was 2.4136, down 3.8% from the 23:00 session open.
The overnight low was 2.4062, leaving the 2.40 invalidation intact by only 0.0062. That makes this a failed confirmation, not yet a completed invalidation. The distinction matters: momentum weakened, but the framework only breaks on a 15-minute close below 2.40.
Next read: reclaim and hold 2.50 to restore momentum; close below 2.40 to invalidate. Between them, there is no clean edge.
Prior checkpoint: https://www.binance.com/en/square/post/374834192669388
Binance Spot, RAYUSDT, 15m + daily close, 8 Oct 2026 07:05 Beirut.
#RAY #MarketStructure
$RAY was 2.5210 at 23:00 Beirut, but the 7 October daily candle closed at 2.4678—below the 2.50 level that needed to hold. By 07:05, price was 2.4136, down 3.8% from the 23:00 session open.
The overnight low was 2.4062, leaving the 2.40 invalidation intact by only 0.0062. That makes this a failed confirmation, not yet a completed invalidation. The distinction matters: momentum weakened, but the framework only breaks on a 15-minute close below 2.40.
Next read: reclaim and hold 2.50 to restore momentum; close below 2.40 to invalidate. Between them, there is no clean edge.
Prior checkpoint: https://www.binance.com/en/square/post/374834192669388
Binance Spot, RAYUSDT, 15m + daily close, 8 Oct 2026 07:05 Beirut.
#RAY #MarketStructure