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The Raydium token has been retracing higher price levels, but at a slow pace for quite some time. Be that as it may, some indications suggest upward movement may gain strength. The token currently sits in second place on the daily top crypto gainers list at the time of writing. Let’s take a closer look below.
RAY Statistics
Raydium Current Price: $2.072
Market Capitalization: $602.1M
Circulating Supply: 290.81M
Total Supply: 554.99M
CoinMarketCap Rank: 90
Key Price Levels
Resistance: $2.500, $3.000, $3.500
Support: $2.000, $1.500, $1.000
Raydium Market Steadily Pushes Higher
Price action in the RAY daily market has been rising steadily. This has resulted in price action climbing past some important thresholds. The latest green candle on the chart stands above the converging 20-day and 50-day Moving Average (MA) lines.
Also, the Stochastic Rate of Change (SROC) indicator lines can rise above the equilibrium level at the tip. This technically suggests that upward momentum is on the rise, and we may see further price increases soon.
RAY Price Movement Maintains Upward Trajectory
While price action continues with moderate gains, it remains on an upward path. As a result, the token now trades above all the MA lines. Meanwhile, the 50-day, 100-day, and 200-day MA lines have all converged below the current price level.
The most recent price candle on this chart also remains green and positioned above all MA lines. This technically indicates that upside momentum is likely to strengthen. The SROC indicator lines are seen above the 0.00 level and appear green, reinforcing the bullish outlook. Consequently, this suggests that price action may soon approach the $2.250 price mark.
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