Raydium (Ray) recovered by more than 10 % after crashing Monday morning, prompting the market ceiling to nearly two billion dollars. Technical indicators now show signs of a continued possible rise.
Ray revenues and trading volume are still among the highest rates, which enhances its location as a major Web3 protocol. Whether Ray can maintain this momentum or facing another contraction, it will depend on his ability to maintain the main support levels and confirm the upward trend.
Raydium is one of the largest Blockchain apps on the market
Raydium has emerged as one of the best Blockchain protocols born in revenue, bringing more than $ 42 million in the past seven days. This applies to the main players such as Circle, UISWAP and even Ethereum in terms of profits.
Over the past year, Raydium achieved nearly one billion dollars in revenue, significantly approaching Solana 965 million dollars.
Regarding the trading size, Raydium dealt with about $ 3.4 billion in the last 24 hours and 21 billion dollars during the past week, which increased its place as one of the most used Web3 projects ever.
Ray RSI recovers after hitting excessive sales levels
Rsi’s Rsi’s currently at 53.87, rises sharply from 20.8 only two days ago. The RSI (RSI) Index measures momentum by tracking modern price movements, with values less than 30 indicating an increase in sale and more than 70 levels in the peak purchase area.
The last jump indicates that the purchase pressure has increased, which led to the removal of Raydium from the sales lands to a more neutral scope.
At 53.87, the RSI’s RSI in Raydium is not bullish or strong, leaving a room for more price movement in either direction. It is worth noting that Ray has not touched the level of 70, which indicates excessive conditions in the peak, since January 19.
This indicates that although the original has witnessed a renewed power, it has not yet entered a strong upward phase. The confirmation of the next direction depends on whether the business management conference is still rising or procrastinating at the current levels.
Beam price prediction: 33 % up?
The Raydium price has recently been corrected by 34 % between January 30 and February 3, but it has since recovered about 30 %. Its EMA lines indicate that the golden cross, where the golden cross can be formed, as the average moving average can be formed over the long term in the long term.
If this happens, Ray Price may continue to recover, as it is likely to pay it in the strong upward trend to re -test $ 7.92. The collapse above this level may lead to more gains, with $ 8.7 as the next main goal, which is a possible 33 % upward rise.
However, if Ray fails to keep his momentum, support may be tested at $ 5.85, with a collapse that leads to $ 5.36. The deepest sale can see that it decreases to $ 4.71 or even $ 4.14, which represents its lowest level since January 13.
Disintegration
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