RAY climbs more than 11% after strong Q3 earnings and buyback program

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Raydium surges 11.01% today on buybacks

Highlights

Raydium trading fees surged to $57.1 million in Q3 2026, tripling year-over-year as platform activity increased.
Twelve percent of quarterly fees funded buybacks of 4.58 million RAY tokens, and Total Value Locked rose 56% to $1.34 billion.
RAY/USD trades below near-term resistance at $2.0698 with mixed momentum signals and a projected five-day range of $1.6662 to $2.2606.

Fee surge and buybacks fuel rally after StonkFun migration

Raydium, a decentralized exchange on the Solana network, reported that trading fees tripled year-over-year in Q3 2026 to $57.1 million, with 12% of these fees allocated to buy back 4.58 million RAY tokens and reduce the circulating supply. The Total Value Locked on the platform increased 56% to $1.34 billion, supported by strong September trading volumes after the migration of StonkFun's launchpad to Raydium's infrastructure. Over $5.15 million was used for buybacks during the quarter.

Anton Kharitonov, expert at Traders Union, sees the recent jump in Raydium as driven mainly by aggressive buybacks and surging fees, but remains concerned about short-term sustainability. He notes that despite bullish medium- and long-term technicals, weak short-term momentum and mixed indicators like the neutral MACD, oversold Stochastic RSI, and negative Awesome Oscillator suggest risk of reversal. Increasing Total Value Locked and institutional flows support some optimism, yet he stresses that dominance by sellers on intraday signals cannot be ignored. Kharitonov believes the proof of sustained demand is still lacking as prices remain capped below the 20-day moving average. "I remain wary until Raydium decisively breaks resistance and confirms trend strength — for now, capital should be protected against sudden pullbacks."

Viktoras Karapetjanc, expert at Traders Union, highlights Raydium's strong fundamentals, driven by tripled trading fees and a robust buyback program that reduces token float. He sees the jump in Total Value Locked and the onboarding of StonkFun's launchpad as signs of rising institutional confidence and user growth. The bullish alignment of key moving averages signals a lasting positive structure, with further inflows likely to support higher levels. Karapetjanc is constructive on the forward outlook, noting consolidation as healthy before a potential move up. "Bullish structure remains intact — I expect continued growth and see multiple setups for further upside if market sentiment persists."

Jainam Mehta, market strategist, notes Raydium trades in a consolidation range as technical momentum is mixed and price fluctuates just below $2.0698 resistance. Baseline scenarios suggest sideways action, but volatility bands between $1.6662 and $2.2606 could permit tactical trades in both directions. Mehta sees potential for a short-term breakout if RAY clears the Ichimoku Kijun, but also highlights weakness if $1.6662 fails. "With divergence in indicators, I would monitor support and resistance zones closely for tactical entry opportunities."

Bullish trend foundation as momentum signals show mixed bias

RAY/USD is trading just below the 20-day moving average at $2.0698, but remains above the 50-day ($1.7163) and 200-day ($0.9406) moving averages, highlighting a bullish foundation for both the medium- and long-term trends. The near-term ceiling is set at $2.0698, with the nearest support at $1.8636, and upside structure reinforced by the MA-50 above MA-200 alignment. Resistance sits at the Ichimoku Kijun ($2.1386). Momentum signals are mixed, with MACD neutral and ADX indicating trend continuity. RSI stands at 46.98, signaling a sell, while the Stochastic RSI enters oversold territory at 10.54. CCI and BBP reflect intraday seller dominance, as confirmed by a negative Awesome Oscillator.

In a recent review, analysts highlighted that Raydium's rapid trading fee growth and active token buybacks were supporting a bullish technical outlook. The current article adds stronger evidence with updated Q3 data and a larger buyback, while the trading setup now favors close monitoring of the $2.0698 resistance and $1.6662 support as volatility persists.

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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