Will a potential support at $3.05 determine the next price trend for Raydium, as its value decreases by 10%?
Raydium (RAY) has maintained a positive outlook in the face of market turbulence, thanks to the continued presence of smaller buyers and the accumulation of orders by large holders. According to recent data, the current outlook for RAY is bullish with strong momentum and potential for further upside.
Price Movements
Raydium (RAY) recently rallied sharply from a low near $2.56 to above $3.30, testing a long-term descending triangle resistance around $3.40-$3.58. It is currently trading near $3.62-$3.36, with continued upward momentum confirmed by technical indicators like the Chande Momentum Oscillator (~58.5). Breaking above $3.90-$4.00 is viewed as critical for unlocking further gains, targeting levels as high as $4.80 or beyond.
Resistance and Retracement Levels
The breakout has carried RAY above important Fibonacci retracement levels (e.g., 0.236 at $2.92, 0.618 previously crossed near $3.50), suggesting buyers are gaining control. Next key targets on strong breaks include $3.88, $4.20, and $4.50, corresponding to Fibonacci extensions and retracement resistance zones.
Whale Activity & Market Demand
Although explicit on-chain whale transaction data was not detailed, the strong breakout and steady rally imply increased buying pressure and demand. Raydium's market cap (~$901.5M) and its position as a dominant Solana-based DEX token add to its positive demand narrative. The platform continues to expand offerings and volume, contributing to token support.
Technical Patterns
A clean breakout from a symmetrical triangle pattern on daily charts aligns with typical momentum spikes after consolidation phases. Elliott Wave analysis suggests the end of a corrective phase (Wave II) soon, positioning RAY for a strong Wave III bullish rally, historically the most powerful.
Neutral and Bearish Scenarios
If RAY fails to hold above the $3.20-$3.30 support or closes below its 200-day SMA, downside risks increase with potential retracement. Sideways trading between $3.20 and $3.90 is possible if bulls fail to break key resistance in the near term.
Conclusion
Overall, the data points to a positive outlook for Raydium with potential upside toward and beyond $4 if current momentum is sustained, buoyed by technical breakouts and growing network activity. Caution is advised around key resistance and support levels where consolidation or pullbacks could occur before a sustained rally resumes.
[1] CryptoQuant [2] TradingView [3] Elliott Wave International [4] Investopedia [5] Raydium Official Website
Read also:
- Condor Reveals Q2 Results for 2025 and Secures a $5 Million Bridge Loan
- More than half of British homes adhere to insulation standards established during the 1970s.
- While Éowyn's storm caused a massive €301 million in damages, fossil fuels maintain their position as the leading power source.
- Transition in Energy: Merz Administration Plans Enactment of Heating Revolution from 2026
