RAY slides around 10.5% as token trades below 20-day moving average and faces strong selling pressure

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Raydium slides 10.40% today on selling

Highlights

Raydium's RAY token saw a recent surge in spot selling and trading activity, with perpetual-futures volume reaching $9.9 million.
RAY gained over 40% in the past month, but recent trading volume has fallen below monthly averages, with no confirmed regulatory or protocol-specific actions impacting it.
Technicals show RAY/USD below its 20-day moving average with mixed momentum indicators, and forecast near-term movement in a $1.5897 to $2.0979 range.

Trading activity shifts as spot selling surges despite lack of news

Raydium's RAY token, a decentralized exchange and liquidity protocol token built on the Solana network, experienced increased spot selling, bringing heightened trading activity across spot and perpetual-futures with perpetual-futures volume reaching $9.9 million. Over the last month, RAY was reported to have gained more than 40%, but recent trading sessions saw volume fall back below monthly averages. There were no confirmed regulatory or protocol-specific actions affecting Raydium in this period.

Anton Kharitonov, expert at Traders Union, highlights the recent 10.4% drop in RAY as a clear signal of increasing weakness. He observes that spot selling and falling volume point to shallow demand and short-term exhaustion. Kharitonov is wary that despite medium- and long-term technical support, sharp intraday volatility and the recent gap down mark heightened downside risk. He notes sentiment remains fragile as momentum indicators diverge, especially with neutral RSI and oversold Stochastic reading. "Downside scenarios cannot be ruled out; I see little evidence of renewed institutional confidence or strong inflows supporting a swift rebound here."

Viktoras Karapetjanc, expert at Traders Union, sees the medium- and long-term bullish structure in RAY remaining intact. He views the absence of negative regulatory or protocol-specific actions as a positive signal. Karapetjanc believes that recent volatility offers tactical opportunities for forward-looking participants, given RAY’s ability to sustain gains above key support levels. He is confident that momentum could shift quickly if resistance levels are breached. "I expect further growth as the market offers multiple setups for bullish continuation above $2.10."

Parshwa Turakhiya, analyst, notes that RAY’s technicals signal a tense standoff after the rapid drop. He points to mixed momentum readings — a modest buyer advantage from BBP but evident short-term exhaustion from Stochastic RSI. Turakhiya sees potential for sharp reaction trades near key support at $1.5897, with volatility amplifying short-term setups for agile traders. "Sideways movement is favored, but quick reversals are likely for those who stay nimble in this sentiment-driven range."

Medium-term bullish trend persists as intraday volatility rises

RAY/USD is trading below its 20-day moving average at $2.1324, but remains above the 50-day ($1.5928) and 200-day ($0.9038) moving averages, highlighting a medium- and long-term bullish structure despite short-term selling pressure. The Ichimoku Kijun is at $2.0164, setting near-term resistance, with the pair just above the nearest support at $1.5928 and resistance at $1.9543. Momentum signals are mixed: MACD and ADX suggest continued upside momentum, whereas RSI is neutral at 53.2 and Stochastic RSI flags oversold conditions. The CCI remains close to neutral, and Bull/Bear Power (BBP) is marginally positive at 0.014, suggesting modest intraday buyer advantage. The sharp 10.4% drop after a gap down and sustained pressure near session lows indicates divergence between active momentum and short-term exhaustion, amid intraday volatility of 6.78%.

Earlier, analysts noted that Raydium was facing persistent downside risk as technical momentum faded and volatility increased. The current data add a new dimension by highlighting a divergence between intraday selling pressure and underlying medium- and long-term bullish structure, making the $1.5897 support level a critical threshold to monitor for trend confirmation.

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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