Price activity in the Raydium market has been steadily rising since April. The ongoing session, however, has recorded just enough of a price increase to keep the token among the most profitable coins of the day. Meanwhile, applied technical indicators are still hinting at the possibility of price action continuing to move upward in subsequent sessions.
Raydium Statistics
Current Price: $3.33
Market Capitalization: $968.55M
Circulating Supply: 554.99M
Total Supply: 289.78M
CoinMarketCap Rank: 79
Key Price Levels
Resistance: $4.00, $5.00, $6.00
Support: $3.25, $3.00, $2.50
RAY Bulls Have a Good Grip on the Market
Recently appearing price candles on the Raydium daily chart have been forming above the middle Bollinger Band. The most recent price candle appears larger than the previous one and, as such, suggests that price momentum may be gaining strength.
Likewise, it stands above the middle Bollinger Band, which is currently contracting. Technically, this aligns the market for a potentially significant price increase. Similarly, the Smoothed Rate of Change (SROC) indicator lines are positioned above the equilibrium level, with its terminal still slightly projected upward. This also indicates that bullish forces remain in control of the price trajectory.
Raydium Price Action Is Facing Gravitational Pull
Price activity in the RAY 4-hour chart shows an upward trend. However, it is evident that momentum has been gradually weakening, as seen in the recent price candles. The latest candle is a red one, but price activity remains above the middle Bollinger Band.
Technically, this suggests that the market may have found a base level for a potential upward continuation. Similarly, the terminal point of the SROC indicator is now slightly poised upward, although it remains below the equilibrium level. That said, traders may anticipate a continued attempt to reach the $4.00 price level in the near term.
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