Can the RAY Token Price Revisit its All-Time High? | Airdrop Alert Pro

rayIt is the native token of Raydium, a Solana-based automated market maker (AMM) and liquidity provider, and has become the market’s biggest gainer in the past 24 hours. This occurred despite a broader market pullback during this period.

RAY is trading at its highest level since 2021 and looks set to extend its gains as trading activity surges.

Raydium demand surge drives prices higher

assessment real/dollar The one-day chart shows surging demand for altcoins. Ichimoku Cloud’s setup proves this, with its leading spans A and B forming dynamic support below the coin’s price at $6.04 and $5.87 respectively.

Ichimoku Cloud tracks the momentum of asset market trends and identifies potential support/resistance levels. When an asset trades above this cloud, it is in an uptrend. In this case, the cloud acts as a dynamic support area, enhancing the likelihood of a continued upward movement as long as the price remains above it.

also, RAY’s Positive Chaikin Fund Flow (CMF) supports this bullish outlook. At press time, the exchange rate was trading above the zero line at 0.23.

This momentum indicator tracks how money flows in and out of an asset. As with RAY, when its value is positive, buying pressure dominates the spot market. It shows that market participants are accumulating funds and hints at continued increases in asset prices.

RAY Price Prediction: Are New Highs Coming?

Based on readings from the RAY Fibonacci Retracement tool, if the current uptrend continues, it may attempt to break above the $8.96 resistance. If successful, this could push its price to $11.05 and close to its All-time high $17.80.

However, a surge in selling would invalidate this bullish thesis. In this case, RAY token price is likely to give back its recent gains and fall below the support zone on Ichimoku Cloud, trading at $4.30.