Altcoins News
By Maheen Hernandez
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Raydium (RAY), the native token of Solana-based decentralized exchange Raydium, has delivered an impressive rally in recent days, gaining nearly 65% over the past week.
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However, while momentum remains broadly positive, some caution may be warranted. Technical indicators suggest that Raydium’s current rally could face short-term resistance near…
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The rally began in earnest after RAY successfully rebounded from the $2.20 support zone, which had previously acted as a strong foundation following a sharp decline earlier in May.
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Despite the structural breakout, analysts have pointed out signs of potential divergence. The Awesome Oscillator, a momentum-based indicator, has not matched the price action…
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Adding to this cautious outlook is the behavior of the Chaikin Money Flow (CMF), a tool used to gauge capital inflows and outflows. On the daily chart, the CMF remains above +0.
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Further insights from derivatives data support the idea of short-term speculative interest. Data from Coinalyze shows that Open Interest in Raydium futures surged significantly,…
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The Funding Rate has remained positive, reinforcing the notion of bullish sentiment in the short term.
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Currently trading just above $3.70, Raydium is within striking distance of the $4 level. This price point is considered both a psychological and technical resistance area.
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In summary, Raydium has shown strong performance in recent days, with both retail and institutional interest helping to drive its bullish breakout.
The Currency Analytics
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