Raydium (RAY) Bullish Momentum Grows Stronger

While the Raydium token has seen some notable price increases over previous sessions, the ongoing session appears to have welcomed an extension of that trend. The coin has recorded an additional price growth of 8.22%. Price action continues to progress sharply in this market. A more detailed analysis is provided below.

RAY Statistics

Current Price: $3.206

Market Capitalization: $853.42M

Circulating Supply: 267.46M

Total Supply: $853.42M

CoinMarketCap Rank: 95

Key Price Levels

Resistance: $3.500, $4.000, $4.500

Support: $3.000, $2.500, $2.000

Raydium Bulls Stay Energetic

Looking at the RAY market on the daily chart, it is clear that price activity is gaining stronger bullish momentum. The market has shifted direction over the past two sessions, trending toward the upper limit of the Bollinger Bands (BB) indicator.

The ongoing session also appears more strongly bullish, as indicated by the size of the corresponding price candle. Additionally, the BB indicator remains well expanded, which suggests the potential for further upward movement. The Smoothed Rate of Change (SROC) indicator line continues to rise steadily above the equilibrium level, supporting the bullish narrative.

RAY Keeps the Course

On the Raydium 4-hour chart, bulls can also be seen pushing the market steadily higher. Price action has been trending upward since rebounding off the middle band of the BB indicator. The terminal part of the BB indicator is expanding, suggesting room for continued price increases.

Similarly, the SROC indicator line is moving upward after crossing above the equilibrium level. Observing the most recent price candle, we can infer that downward pressure is currently weak, as the candle has no visible upper shadow at the time of writing. Therefore, traders may consider targeting the $3.500 price level in the near term.

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