RAY’s price broke out of a downward trend not so long ago, showing signs it might be ready to move higher. Top analyst World Of Charts highlighted this breakout on X (formerly Twitter), suggesting prices could climb further from here.
He highlighted that traders previously saw strong profits from Raydium, and the current market setup presents another opportunity. The breakout from the wedge pattern has been confirmed, indicating a shift in momentum that could lead to higher price levels.
What you'll learn 👉
Raydium Technical Analysis and Market Trends
The price of RAY has moved beyond the falling wedge’s upper trendline, a development often seen as a bullish reversal. The pattern typically signals that selling pressure is weakening, allowing buyers to take control.
Key support levels include the lower trendline, which prevented further declines, while resistance is found near $7.5-$8.0. If RAY’s price continues upward, analysts suggest that $10-$12 could be the next potential target. However, traders remain cautious, watching for a sustained breakout supported by volume.
Volume and Momentum Considerations For Raydium
Traders are watching the trading volume closely since it helps confirm whether a price move is likely to continue. Higher volume would support the case for rising prices, while lower volume might see Raydium’s price fall back to around $5.0.
Technical indicators suggest Raydium could keep climbing if enough buyers step in. That said, what Bitcoin does and the overall mood in crypto markets will likely influence how quickly and strongly Raydium moves.
Read Also: Solana (SOL) Price Correction Likely, Expert Warns—Here’s Why
Potential Scenarios for Raydium Price Movement
If RAY maintains its bullish momentum, traders anticipate a test of the $7.5 – $8.0 resistance zone. A successful break above this level could push the price toward $10 or higher. Conversely, a lack of momentum could see the RAY’s price retesting the breakout zone before making another attempt at higher levels.
The DeFi community is keeping a close eye on Raydium’s price after this breakout pattern. While things look positive right now, we’ll need to see how price movements play out over the next few days to confirm if this upward move has staying power.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
