- The supply inflation of the Raydium token was high at 20.19%.
- The RAY token price had advanced by 1850% from its all-time low level.
The number of holders of the Raydium token has advanced over the last few days, resulting in a total number of 1.3K holders.
The top 10 holders of the Raydium token had 98.69% of the token’s total supply at press time. Also, the largest holding address of the token alone had 82.18% of the supply.
The market cap of the Raydium token advanced by 8.8% in just the last 24 hours. It further resulted in a market cap value of $679.758M, which made it the 100th largest token in the global crypto market at the time of writing.
The sentiment of the token is bullish, while its price was highly volatile at 14.8%. Also, the token’s fear and greed index was 74, which showed greed among the investors for Raydium.
The value of the traded volume for the token also advanced by 14.7% in just 24 hours from the press time. It resulted in a traded value of $40.195M, which was 5.3% of the market cap.
Raydium Token Derivatives Data Analysis
No change in the token’s derivatives volume or open interest was recorded over the last few days.
The value of the derivatives traded volume for the token further witnessed a decline of 12% over the last 24 hours. It resulted in a traded value of $10.64M while the open interest of the token advanced by 22%.
The liquidation data further showed bulls’ dominance as higher short liquidations worth $13.76K were recorded in the last 24 hours. Against this, the value of the longs liquidated was nil.
RAY Token Technical Analysis
A higher-high pattern was spotted on the daily chart of the RAY token price, which led the price to higher levels.
The RAY token price has traded in a range for approximately three months. The price further broke out above the consolidation, which led to a surge of 40% in the token price.
At press time, the token’s price was again building up bullish momentum, followed by strong green candles to break above the recent swing high. If the RAY token successfully breaks above the swing high, a further surge in the price might be witnessed.
Raydium Token Technical Indicators Analysis
RAY/USD Chart by TradingView.com
A golden cross of 50-day and 200-day EMAs was formed on the RAY token’s daily chart. The token price was also sustained above those EMAs, which exhibited a robust bullish character in price.
The MACD and the signal line have advanced to a higher level followed by a breakout to the bullish trajectory. The histograms formed on the chart were also bullish.
The RSI also hit the overbought zone and followed a bullish cycle on the chart. It further broke out above the 14-day SMA and gave closing above it.
RAY token shows bullish momentum with a higher-high pattern and an 1850% rise from its all-time low. Strong technical indicators, including a golden cross and bullish MACD, signal potential gains.
Increased market cap, trading volume, and positive sentiment suggest further price surges if the bullish trend continues.
If the token price loses momentum and witnesses profit booking, it might take support at the $1.360 and $1.90 levels. Also, on the higher side, the resistance levels for the token are $3.20 and $5.0.
Disclaimer
This article is for informational purposes only and does not provide any 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.
