Raydium rises nearly 10% as protocol activity and buybacks boost demand

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Raydium surges 9.74% today on volume

Highlights

Raydium recorded $16.1 billion in spot trading volume in the third quarter, up 17% from the previous period.
The protocol allocated $6.2 million of collected fees for RAY token buybacks, acquiring 4.58 million tokens or about 1.7% of supply.
RAY/USD shows strong bullish momentum with buy signals across major indicators, an expected five-day range of $2.085 to $2.8392, and overbought conditions indicating short-term risk of cooling.

Trading fee growth and buybacks drive Raydium token demand

Raydium, a decentralized exchange protocol on the Solana blockchain, recorded $16.1 billion in spot trading volume during the third quarter, up 17% from the previous quarter. The protocol collected $57.1 million in fees and allocated $6.2 million toward RAY token buybacks, acquiring approximately 4.58 million tokens or about 1.7% of the circulating supply. A portion of trading fees are used for these buybacks, which are held at a public on-chain address. Rising activity on the LaunchLab platform and increased Solana network usage have contributed to higher swap fee revenue for the project.

Anton Kharitonov, expert at Traders Union, views the recent rally in RAY with caution. He notes that buyback-driven demand and strong fee collection can inflate price action but do not address fundamental risks. Technical overextension and overbought readings increase the likelihood of a near-term pullback, while the price remains vulnerable if buyback momentum wanes. Kharitonov is also wary of volatility and concentration of liquidity in protocol-related addresses. "Traders should remain alert for sharp reversals, as the current trend may prove unsustainable if organic demand does not replace protocol-induced buying," Kharitonov says.

Viktoras Karapetjanc, expert at Traders Union, believes Raydium continues to impress with robust spot trading growth and an aggressive buyback strategy. He notes that Solana ecosystem expansion and LaunchLab adoption are reinforcing fee generation and increasing RAY’s fundamental appeal. Karapetjanc highlights rising confidence from these inflows, seeing bullish structure and higher price objectives as likely. "With momentum and fundamentals aligned, further growth is on the table and the market offers multiple setups for optimistic participants," he says.

Jainam Mehta, market strategist, sees technical strength in RAY's consolidation above major moving averages. He notes the potential for a breakout above $2.4783, yet also observes crowded long positioning as a contrarian warning. Mehta believes traders should watch for signs of short-term exhaustion or late-stage euphoria. "I would monitor for a quick dip toward $2.085 as an entry if the overbought conditions resolve," Mehta says.

Bullish trends prevail as technicals face overbought risks

RAY/USD is trading above the 20-day ($1.9931), 50-day ($1.4091), and 200-day ($0.8538) moving averages, signaling pronounced bullish momentum across all observed timeframes. Key technical levels are the near-term resistance at $2.4783 and support at $2.4068, while the bullish crossover of the MA-50 over the MA-200 further confirms the underlying uptrend. Momentum indicators such as MACD and ADX register in strong buy territory. However, the RSI, Stochastic RSI, and CCI all indicate overbought conditions, highlighting a potential risk of short-term pullback. Bull/Bear Power (BBP) shows buyers actively dominating, and the Awesome Oscillator (AO) remains in bullish alignment. Intraday volatility stands at 2.97%, with the price consolidating mid-range and bullish dynamics prevailing.

Previously it was reported that Raydium demonstrated sustained bullish momentum supported by strong technical trends. The latest developments, including increased protocol activity and substantial token buybacks, further reinforce the bullish outlook, making the $2.8392 resistance a crucial level to monitor for confirmation of continued upward movement.

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

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