Altcoins News
By Julie Binoche
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Raydium (RAY), the Solana-based decentralized exchange (DEX) token, has seen a sharp pullback over the past nine days, losing more than a quarter of its value.
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While the current price range suggests a potential bullish reaction in the near term, short-term volatility remains a risk, especially with Bitcoin’s ongoing struggles to reclaim…
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Price Reversal at Crucial Support in Focus
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Raydium briefly pierced above the $2.85 resistance late last month, but the rally was short-lived.
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This support zone is technically significant. If bulls can maintain price action above $2.10, it may provide a strong foundation for a renewed move upward.
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The Accumulation/Distribution (A/D) indicator had been showing strength throughout April, forming higher lows and suggesting increased investor accumulation.
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Similarly, the Money Flow Index (MFI), a momentum oscillator that measures the inflow and outflow of capital, has dropped below the neutral 50 level.
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The moving averages have also begun to converge, a classic signal of potential consolidation or a trend reversal. In this scenario, the $2.
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Supporting the bearish technical setup, liquidation heatmaps from Coinglass show a cluster of liquidation levels between $1.97 and $2.08.
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The 24-hour liquidation heatmap identifies $2.20 as a near-term level where cascading liquidations could begin, potentially pushing the price further into the $2.00–$2.
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Much of Raydium’s price action continues to mirror that of Bitcoin. As BTC struggles to regain its footing near $94,800, RAY’s performance may also remain under pressure.
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Conversely, if Bitcoin faces further rejection, RAY could experience more downside pressure and may need to retest deeper support levels before any meaningful recovery can take…
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Outlook: Volatility First, Breakout Later
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Over the next 24 to 48 hours, traders should closely monitor the $2.00 to $2.10 demand zone.
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However, caution is warranted. A breakdown below $2 could trigger further liquidations and invalidate the current support, leading to increased market uncertainty.
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