RAY / TetherUSLong
Raydium (RAY) Defies Market Trends, Hits 4-Year High
Raydium’s native token, RAY, is stealing the spotlight as it climbs to its highest price since 2021, bucking the broader market downturn. Over the past 24 hours, RAY has emerged as the top gainer, fueled by increased trading activity and strong demand.
A closer look at the RAY/USD one-day chart highlights bullish momentum. The Chaikin Money Flow (CMF) indicator, sitting comfortably above the zero line at 0.23, signals robust buying pressure. If this trend continues, RAY could challenge resistance at $8.96. Breaking past this level might push the token to $11.05, setting its sights on the all-time high of $17.80.
However, the bullish outlook comes with caution. A surge in sell-offs could derail RAY’s ascent, causing it to dip below the support zones of its Ichimoku Cloud. In this bearish scenario, the token might slide back to $4.30.
As the native token of the Solana-based automated market maker (AMM) Raydium, RAY is leveraging its role in the DeFi ecosystem to fuel its rally. Will this momentum hold, or will the market pullback catch up? For now, RAY is a standout performer in an otherwise bearish market.
A closer look at the RAY/USD one-day chart highlights bullish momentum. The Chaikin Money Flow (CMF) indicator, sitting comfortably above the zero line at 0.23, signals robust buying pressure. If this trend continues, RAY could challenge resistance at $8.96. Breaking past this level might push the token to $11.05, setting its sights on the all-time high of $17.80.
However, the bullish outlook comes with caution. A surge in sell-offs could derail RAY’s ascent, causing it to dip below the support zones of its Ichimoku Cloud. In this bearish scenario, the token might slide back to $4.30.
As the native token of the Solana-based automated market maker (AMM) Raydium, RAY is leveraging its role in the DeFi ecosystem to fuel its rally. Will this momentum hold, or will the market pullback catch up? For now, RAY is a standout performer in an otherwise bearish market.
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