- The Raydium price has taken support on 20-day EMA and jumped by 23% in 2 days.
- This crypto’s 24-hour trading volume is $184.58 million, which has increased by 429%.
- The Raydium crypto price has declined by 34% in the past 2 weeks.
The RAY crypto price has witnessed intense buying pressure and has gained 1000% since November 2024. Since March, the Raydium price has risen by taking support on a 20-day exponential moving average. It has recently taken support on the 20-day exponential moving average and increased by approximately 20% in the past few hours.
The Raydium crypto price registered a 52-week high of $3.33 on March 18, 2024, and the trend was disturbed near the $3 hurdle and further performed negatively. In the last 2 weeks, the RAY price has declined by 36%, which indicates the short-term profit booking.
According to the technical chart, the RAY price is trading over the significant moving average, indicating the buying momentum. The RSI is at 57, which has slipped below the RSI-based moving average, showcasing the sellers’ interest.
RAY Crypto Price vs Volume Analysis
According to the volume and price chart, the trading volume has decreased from $617 million to $184 million in the last two weeks, affecting the price negatively. In the previous few hours, the trading volume has jumped by more than 400%, and the Raydium crypto price has also shown a positive spike. If the volume keeps surging, it may positively impact the price.
RAY Crypto Social Dominance and Social Volume Analysis
Based on the graph, awareness about Raydium crypto has decreased on social media sites like X, Instagram, and Telegram in the last few weeks, which has negatively impacted price. If the social dominance and volume increase, the price may also gain bullish momentum.
Technical Analysis of the RAY Crypto Price in a Daily Time Frame
In a daily time frame, the Raydium crypto price has been on a bullish trend and has reached a 42-week high. The Raydium price has shown intense selling pressure in a broader time frame, but in the short term, bulls are strong.
Suppose the Raydium price slips below the 20-day exponential moving average and is sustained, and then the price may melt to the support level of $1.25. If the price fails to defend the $1.25 mark, sellers may look for the 200-day exponential moving average.
On the other hand, if the RAY price sustains the $2.50 mark and trading volume increases, it may reach the 52-week high and knock the $3 hurdle. If the price spends some time near $3 and triggers a breakout with volume, then it may be considered a trend reversal.
Technical Analysis of the RAY Price in a 4-H Timeframe
In a 4-H time frame, the Raydium crypto price has struggled between the $1.90 and $2.40 levels for the last few weeks. If the Raydium price slips below the $1.90 level and sustains, then selling pressure for the short term can be seen.
Alternatively, if the price surpasses the $2.50, the buyers may look for the $3 hurdle. Suppose the Raydium price sustains the $3 hurdle and triggers a breakout; a trend reversal momentum can be seen.
Conclusion
The RAY crypto price has been in a solid bearish trend over a wider time frame, but bulls are strong in the short term. The price has been bullish and reached a 52-week high, but it has failed to sustain the $3 hurdle. Overall, the technical indicators favor the buying momentum.
Technical Levels
Resistance: $2.40 & $3.00
Support: $1.90 & $1.30
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.