- The Raydium coin is decreasing downwards, around 9.9%, during the intraday trading session.
- The 24-hour trading volume is at $848 million.
- RAY/BTC pair is also trading positive by 9.4% at 0.00029649 BTC.
Daily technical chart and Raydium coin price is showing a downward trend. Based on the pivot level, the initial support level is 9.90 USD. From another perspective, if it accelerates, the resistance level to watch is 30.0 USD. Although the chart created a bearish inside candlestick pattern during the day, the price is expected to be a downside with medium reliability.
Ichimoku Cloud is composed of lead-1 and lead-2, and the displacement value is 1. It operates as a pivot level and leading indicator of asset price changes. Investors can see that the price breaks above the Red Moku Cloud and now trades above the Green Moku Cloud, so the cost is above the Green Moku Cloud, ensuring the positive trend of RAY.
Trading volume (14.0 M) is below the 20-day moving average (41.68 M). In short, the low volume of transactions caused the price to sustain around the resistance zone. Investors may also notice that the volume bars on the chart are inclining, which indicates that surprising volatility is expected in the next trading days.
The MACD indicator gives (bullish) crossover above the signal line on September 09, indicating a buy signal in the coin. Moreover, Investors can see tiny green bars in the Histogram index.
An Overview of Raydium Coin
The price of Raydium today is $13.71, and the 24-hour trading volume is $848,469,640. The cost of RAY has fallen -9.9% in the past 24 hours. There are 67 million RAY coins in circulation, with a total of 555 million.
Raydium is an automated market maker (AMM) and liquidity provider based on the Solana blockchain for Serum decentralized exchange (DEX). The advantage of Raydium is that it is the first mobile advantage in Serum as AMM and will be an integral part of introducing new and existing projects and agreements into the ecosystem. The deal will serve as a bridge for projects that wish to expand to Solana and Serum. In the process, Raydium and RAY tokens will become the basis for further development with partners, their own platforms and the entire ecosystem.
For other AMMs, Raydium provides on-chain liquidity for the core limit order book, which means that Raydium’s LP can access Serum’s entire order flow and liquidity. In the long run, Raydium’s goal is to occupy and maintain a leading position among Serum’s AMM and liquidity providers. At the same time, they use Solana’s power to promote the development of Decentralized Finance (DeFi) and become a leading agreement in this field with our partners and communities.
Resistance Level: $30
Support Level: $9.90