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- 1 Raydium price continues to climb higher for the 2nd consecutive day after getting buyers’ support.
- 2 The Raydium price was at the higher edge of an Ascending triangle pattern and is expected to register a breakout.
Raydium price has accelerated its recovery, buoyed by a rise in volume inflow in the past 24 hours. RAY crypto retained yesterday’s buying momentum and had climbed nearly 5% at the time of writing.
Furthermore, on a 4-hour chart, the formation of an ascending triangle pattern was noted. The price is hovering near the upper edge of the formed ascending triangle pattern. The recent price hike is backed by a volume gain and may register a breakout soon.
Radium cryptocurrency operates on the Solana blockchain and aims to provide a decentralized exchange platform.
Raydium Crypto Volume Analysis
Moreover, the price rise is supported by a 63.08% rise in volume in the past 24 hours, suggesting a possible breakout of the pattern formed. At the time of writing, the RAY cryptocurrency trades close to $1.24 with an intraday rise of 5.31%.
It has a total market cap of $3.16 Billion and ranks 158th among all cryptos. Moreover, the volume to market cap ratio is 7.46% highlighting mild volatility.
Raydium Crypto Price Technical Analysis
Furthermore, the trend analysis over the daily chart shows that RAY price started to fall in the last week of December 2023. Moreover, this price fall could be grasped as profit-booking after a bullish rally.
Earlier, in the first three weeks of December 2023, the Raydium crypto price added a total of 290% to its market cap, suggesting a strong bullish rally.
However, the price seems to be gaining momentum after a short term correction. The bulls may soon break out of the correction phase and reclaim the upper levels.
Now, if the price breaks above the $1.25 level, it may attract more buying volume to reach upper levels of $1.35 and $1.5.
From a technical perspective, the price hovers above the 50-Day and 200-Day EMAs, suggesting a strong outlook.
At the time of writing, the RSI was at 58.79 points, trading above higher than the mean line, suggesting positive bias in the short term. The SMA line was at 52.65 and is hovering near the mean line.
Raydium Price Prediction January 2024
The long-term trend for the RAY crypto is positive which may drive the price higher forming higher lows. As per the most optimistic view of our analysts, the RAY price could reach a high of $1.45 by the month end.
The bearish view of analysts hopes for the breakdown below the 50-Day exponential moving average after which the price may drop to a low of $1.05.
Raydium Price Prediction 2024
The price prediction for 2024 shows that Raydium crypto may advance to a high of $2.22 by the end of 2024. Whereas, the less optimistic analysts estimate a price target of $1.728 by the end of year 2024.
Raydium Price Prediction 2025
On the most optimistic note, the price may attain $3.207 suggesting an upside potential of 154.10%. The most pessimistic view expects the price could reach $2.351 by the end of the financial year 2025.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
