RAY Price Jumps 20% After Strong Market Correction
Raydium’s (ray) The price rebounded more than 10 % after the collapse of Monday morning, pushing its market value of nearly 2 billion US dollars. Technical indicators now show signs of potentially bullish.
Ray’s income and transaction volume is still the highest, which has strengthened its position as the leading Web3 protocol. Whether Lei can maintain this momentum or face another decline will depend on its ability to maintain a key support level and confirm the upward trend.
Raydium is one of the largest blockchain applications in the market
Raydium has become one of the highest income of the highest income The blockchain agreement has brought more than $ 42 million in the past seven days. This led it ahead of major participants such as Circle, UNISWAP and even Ethereum.
In the past year, Raydium has generated nearly $ 1 billion in incomeIt is very close to Solana’s $ 965 million.
In terms of transaction volume, Raydium has dealt with approximately $ 3.4 billion in the past 24 hours, and has sold $ 21 billion in the past week, consolidating its as one of the most commonly used positions. Web3 project once.
Ray RSI is recovering after super -oversupply
Raydium’s RSI It is currently 53.87 and has risen sharply from 20.8 two days ago. Relative intensity index (RSI) By tracking the recent price changes, the momentum is measured, the value is less than 30, indicating that the conditions are sold out, and more than 70 signals are transmitted too high.
Recent jumping shows that the purchase pressure has increased, bringing Raydium out of the oversold territory and entering a more neutral range.
Raydium’s RSI is neither bullish nor decline at 53.87, leaving room for further price movement in the direction of any direction. especially, Lei did not encounter 70 levelsThis will show that the conditions have been too high since January 19.
This shows that although the assets have a updated strength, they have not yet entered a strong bullish stage. The next trend confirmation will depend on whether the RSI continues to rise at the current level or a stall.
Radio price prediction: Another 33 % of the rise?
Raydium price Recently, between January 30 and February 3, it was recently corrected by 34 %, but then rebounded nearly 30 % since then. Its EMA cable shows that the shortest moving average exceeding the long -term gold cross may soon be formed.
If this happens, Ray price It may continue to recover, and a strong rise may bring it to $ 7.92. Breakouts exceeding this level may lead to further benefits. The next main target is $ 8.7, which represents a 33 % rising space.
However, if RAY cannot maintain its momentum, it may support at $ 5.85, and the fault will lead to $ 5.36. Deeper selling may see it further to $ 4.71 or even $ 4.14, which marks its lowest level since January 13.
Exempt statement
and Trust project Guide, this price analysis article is only used for information purposes and should not be regarded as financial or investment proposals. Beincrypto is committed to accurate and fair reports, but market conditions may change without notice. Before making any financial decisions, be sure to conduct your own research and consult professionals. Please note, our terms and Conditions,,,,, Privacyand Exempt statement Updated.
