Raydium (RAY) Breaks Out with a 15% Gain, Eyes Set on New Highs
- After gaining over 15%, Raydium is holding steady near $2.35.
- RAY’s 24-hour trading volume has increased by over 59%.
The price trajectory of crypto assets remains trapped in a strong bearish grip. Market sentiment appears indecisive due to mixed performance across assets. Defying the trend, Raydium (RAY) has emerged as the top gainer with a 15.03% jump.
Raydium has broken through crucial resistances between $2.12 and $2.37. Breaking past the crucial level might kickstart a bull run. The asset opened the day trading at around $2.04. Gradually, RAY’s upside price correction has pushed it to a peak of $2.44.
At press time, Raydium traded within the $2.35 range with its market cap at $682 million. Notably, the asset’s daily trading volume has increased by over 59.81%, reaching $267 million.
The asset has gained around 38.37%, and it began the week trading at $1.60. Without falling below this mark, Raydium has steadily maintained the momentum to continue trading at the current trading level.
Will Raydium See a Strong Upside Move?
With RAY’s active upside correction, the price has the potential to mount above the resistance of $2.44. Further gains could lead to the formation of a golden cross, and the awakened potent bulls might initiate a rally to the $3 mark.
Contrarily, assuming the support of Raydium fails at $2.22, the price could slip toward the $2 level. The sturdy bears might trigger the asset to trade on the downside, to its former lows after the emergence of the death cross.
RAY’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line. This indicates the bullish crossover. Besides, the asset’s Chaikin Money Flow (CMF) indicator at 0.05 suggests a positive money flow into the asset.
In addition, the Bull Bear Power (BBP) reading of 0.151 infers a modest bullish momentum. Raydium’s daily relative strength index (RSI), staying at 66.01, signals that the asset is approaching the overbought zone.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Raydium (RAY) Breaks Out with a 15% Gain, Eyes Set on New Highs
- After gaining over 15%, Raydium is holding steady near $2.35.
- RAY’s 24-hour trading volume has increased by over 59%.
The price trajectory of crypto assets remains trapped in a strong bearish grip. Market sentiment appears indecisive due to mixed performance across assets. Defying the trend, Raydium (RAY) has emerged as the top gainer with a 15.03% jump.
Raydium has broken through crucial resistances between $2.12 and $2.37. Breaking past the crucial level might kickstart a bull run. The asset opened the day trading at around $2.04. Gradually, RAY’s upside price correction has pushed it to a peak of $2.44.
At press time, Raydium traded within the $2.35 range with its market cap at $682 million. Notably, the asset’s daily trading volume has increased by over 59.81%, reaching $267 million.
The asset has gained around 38.37%, and it began the week trading at $1.60. Without falling below this mark, Raydium has steadily maintained the momentum to continue trading at the current trading level.
Will Raydium See a Strong Upside Move?
With RAY’s active upside correction, the price has the potential to mount above the resistance of $2.44. Further gains could lead to the formation of a golden cross, and the awakened potent bulls might initiate a rally to the $3 mark.
Contrarily, assuming the support of Raydium fails at $2.22, the price could slip toward the $2 level. The sturdy bears might trigger the asset to trade on the downside, to its former lows after the emergence of the death cross.
RAY’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line. This indicates the bullish crossover. Besides, the asset’s Chaikin Money Flow (CMF) indicator at 0.05 suggests a positive money flow into the asset.
In addition, the Bull Bear Power (BBP) reading of 0.151 infers a modest bullish momentum. Raydium’s daily relative strength index (RSI), staying at 66.01, signals that the asset is approaching the overbought zone.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Highlighted Crypto News
Read More
Raydium Hits $5 Resistance as Price Surges: Can Bulls Hold Against Bears?