Raydium (RAY) Surges Past $2 Amid Rising Volume
Key Takeaways
- Raydium (RAY) breaks the $2 mark after six weeks of sideways movement.
- Trading volume increases by nearly 50%, while open interest rises 62% within 24 hours.
- Technical indicators show mixed signals: short-term bullish, but still cautious in the long term.
- A price surge to $2.80 USD is possible, provided there are no negative impulses from the broader market.
Raydium Breaks Resistance – What It Means
Raydium (RAY), a decentralized exchange on the Solana blockchain, recently broke through a key technical resistance level at $2 USD. This breakout occurred after approximately six weeks of consolidation. Trading volume rose by nearly 50%, indicating growing interest. At the same time, open interest – a measure of total outstanding derivative contracts – increased by 62%, suggesting rising expectations for further price gains.
Technical Analysis: Between Optimism and Caution
The 3-day chart reveals a tentative upward trend. However, the long-term outlook remains cautious. The Awesome Oscillator, an indicator used to measure market momentum, is still below the zero line – a sign of ongoing selling pressure. Similarly, the Chaikin Money Flow (CMF), which tracks capital inflows, remains in negative territory at -0.24, indicating capital outflows.
Only the A/D indicator (Accumulation/Distribution), which analyzes the ratio of buying to selling volume, shows a slight recovery in April. However, a clear upward trend has yet to emerge.
Short-Term Indicators Suggest Further Upside
The 12-hour chart paints a different picture. Here, the Awesome Oscillator shows a bullish crossover – a signal of short-term strength. The CMF is above +0.05, indicating sustained buying pressure. The A/D indicator also confirms demand for RAY in this timeframe.
These short-term signals suggest that a rise to $2.80 to $3.00 USD is possible. However, resistance may once again emerge at $2.40 USD – a level that already posed a challenge in February.
Market Sentiment Remains Uncertain
Despite the positive signals on shorter timeframes, overall market sentiment remains cautious. Raydium’s broader trend has been downward since January. Gains from the strong rally in October 2024 have been almost entirely erased. As a result, many investors remain hesitant, which could dampen upward momentum.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Africa Slots: Best African-Themed Slot Machines
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Versus Odds B.V. Casinos
Reading time: ~ 3 minutes
-
Danneskjold Ventures B.V. Casinos
Reading time: ~ 3 minutes
Our Assessment
Raydium is currently showing signs of a short-term recovery. The breakout above the $2 mark is technically significant and supported by rising trading volume and open interest. However, longer-term indicators are not yet strong enough to confirm a sustainable uptrend.
If you’re focused on the short term, opportunities up to $2.80 USD may arise – assuming Bitcoin remains stable. For long-term investments, however, caution is advised until broader technical signals improve.
Sources
- TradingView
- Raydium blockchain data
- On-chain analytics platforms
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency