Raydium extends gains amid a short-term rally holding above key averages

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Raydium jumps 8.41% to $0.61 today

Highlights

RAY/USD displays short- and medium-term bullish momentum with price action well supported by recent upward breakouts.
All core momentum indicators are positive, signaling persistent buyer dominance and suggesting upward continuation is likely in the near term.
Price is expected to trade between $0.5926 and $0.6368 over the next two to three days, with high upside probability and a low chance of reversal.

Bullish signals as intraday momentum strengthens above support

On the hourly chart, RAY is trading above the MA-20 ($0.5971) and MA-50 ($0.589), while still remaining below the long-term MA-200 on the daily chart ($0.7613). The immediate support is defined by the Ichimoku Kijun at $0.5908. Momentum indicators provide further insight: the Moving Average Convergence Divergence (MACD) flashes a Buy signal, while the Average Directional Index (ADX) is Neutral. The Relative Strength Index (RSI) stands at 58.31, with both the Stochastic RSI and the Commodity Channel Index (CCI) in Buy territory, suggesting a bullish bias that hasn’t reached overbought extremes. Bull/Bear Power highlights strong buyer dominance intraday, and the Awesome Oscillator is neutral, without a strong directional indication.

Limited downside risk amid range-bound upside bias

For the upcoming two to three trading days, the anticipated price range lies between $0.5926 and $0.6368, consistent with typical volatility at current levels. The probability favors further upside, while the chance of a sustained downward move appears very low. The base case is for continued sideways movement within this band; a breakout above resistance would support a bullish extension, whereas a drop below immediate support could prompt a bearish scenario.

Viktoras Karapetjanc, Traders Union expert, sees Raydium (RAY) maintaining strong upward momentum. The price is supported by robust technical readings and consistent intraday buyer dominance. He believes the probability favors further upside, with little risk of a deep pullback near term. "With momentum holding above key averages and bullish indicators aligned, I expect RAY to continue trading constructively toward the top of the projected range."

Previously, analysts noted that Raydium was under selling pressure and exhibiting mixed technical signals, warranting heightened caution among traders. The current uptick in momentum and bullish bias suggests a potential shift in sentiment, with a breakout above resistance likely to reinforce Raydium's recovery prospects in the near term.

Source of Data: RAY Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.