Home
News
- 1 The RAY token price reflected a pullback from the 50-day EMA mark.
- 2 Buyers are showing their willingness to retest the $2 mark.
The Raydium token (RAY) price recuperated from the round mark of $1 mark and glanced a spike, directing to exit out of the range bound moves. Moreover, the token is eyeing to retest the upside of $2, and buyers are keen to make a bullish move.
At press time, the Raydium (RAY) token price trades at $1.40 with an intraday drop of 1.60%, indicating neutrality on the charts. It has a monthly return ratio of 27.67% and 446.52% on a yearly basis. The pair of RAY/BTC is at 0.0000202 BTC, and the market cap is $516.20 Million. Analysts are neutral and suggest that the RAY token price may reflect a bounce and will soon cross the $2 mark.
Raydium (RAY) Price Rebounds With Spike In Trading Volume
The Raydium token noticed a trendline breakout and exhibited volume buying activity in the last sessions. The token has acquired a bounce from its support zone of $1 and a sharp spike in trading volume of over 80% this week to $53.17 Million. However, the average volume was noted at $90.10 Million, revealing the demand for the token.
Raydium Witnessed Volatile Swings, But Sentiments Look Steady
As per the data, the Raydium price volatility reflected enormous oscillations and jumped from 0.011 to 0.095; a surge of over 8% was noted. However, the intraday volatility declined by around 5% and fell to 0.020, reflecting the constant price action. Moreover, the total weighted sentiment data remains steady near 0.031, which implies a neutral outlook for the token among investors.
Social Dominance and Volume Outlook of the RAY Token
The social dominance data increased from 0.0158% to 0.0277%, which reflects the actuality that the media and investors are showing their demand and discussing it on social platforms, which revealed a surge in the data. Additionally, the total number of holders increased by over 3% to 1183 in the last three months, which revealed the slow & steady surge day by day.
Active Addresses and Circulation Data OverView
The chart displays the active addresses data, which increased by over 70% to 42 in the last two weeks. Furthermore, the circulation data noted a surge of over 20% to 8743 last month. The overall data reflects the increase in developments and the positive sentiments for the token.
Raydium (RAY) Technical Overview on Daily Charts
The daily charts of the RAY token glimpsed a range breakout, and the price bounced from the $1 mark, leading to a spike. Moreover, the technical indicators favor the bounce and suggest a bullish outlook for the following sessions.
The Relative Strength Index (RSI) curve sails near 65, signifying the buying momentum and bulls’ dominance. Moreover, the stochastic RSI data implies a positive buy signal and suggests that the bounce may continue in the following sessions.
Summary
The Raydium token (RAY) price glimpsed a bounce and implied a bullish momentum on the charts. The technicals suggest a favorable upside toward the $2 mark, which may continue to rise in the upcoming sessions.
Technical Levels
Support Levels: $1.20 and $1
Resistance Levels: $1.50 and $2
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
