Altcoins News
By James Thorp
1 / 9
The cryptocurrency market continues to show signs of weakness, and Raydium (RAY) is among the latest victims.
2 / 9
One of the most concerning indicators for RAY is the liquidation data. According to figures from CoinGlass, short traders have not faced any liquidations, while long positions…
3 / 9
The fact that short liquidations are at zero paints a picture of one-sided momentum. Typically, when a market sees heavy long liquidations and minimal pressure on shorts, it…
4 / 9
Adding to the concern is the Taker Buy-Sell Ratio, also known as the Long-to-Short Ratio. This indicator tracks the volume of aggressive buyers versus aggressive sellers.
5 / 9
However, not all the data points to continued decline. On-chain metrics show a glimmer of support, particularly through spot market activity.
6 / 9
Even so, technical patterns on the daily chart suggest the situation could worsen before it improves.
7 / 9
Further confirmation of bearish momentum comes from two widely watched technical indicators. The Bull-Bear Power indicator is flashing red, showing growing strength among sellers.
8 / 9
While some spot traders continue to accumulate RAY, their efforts may not be enough to offset the dominant selling pressure unless the broader market stabilizes.
9 / 9
With no short liquidations, rising sell pressure, and negative technical indicators, RAY appears to be under the control of sellers.
The Currency Analytics
Want the full story?