$RAY (Raydium) is demonstrating strong bullish momentum, currently trading at $7.291, reflecting an 8.11% gain for the day. The recent price action suggests a potential short-term pullback before a more significant upward movement. Below is an in-depth market analysis, key technical levels, and factors influencing RAY’s price trajectory in the coming days.

Current Market Overview

Current Price: $7.291

24h High: $7.428

24h Low: $6.300

24h Trading Volume: 4.98M RAY

24h USDT Trading Volume: $33.87M

Technical Analysis & Key Levels

Support Zone

RAY previously consolidated within the $4.50 - $5.00 range, forming a strong demand zone. This accumulation phase facilitated the recent breakout, signaling increased investor confidence.

Resistance Levels

Immediate Resistance: $8.00 – A crucial level where selling pressure may emerge.

Next Major Resistance: $10.00 – A breakout above $8.00 could pave the way for further gains toward this level.

Potential Pullback

A short-term correction could bring RAY back to the $6.50 - $7.00 range before the next upward push. Traders should monitor this zone as a possible re-entry point.

Bullish Outlook for RAY

Several factors indicate the potential for continued upward momentum:

✅ Sustained Uptrend: The price structure remains bullish, with higher highs and higher lows.

✅ Increasing Volume: Rising trading activity suggests growing investor interest and market strength.

✅ Altcoin Market Recovery: A broader cryptocurrency market recovery could further support RAY’s price appreciation.

Risks & Considerations

While the outlook appears positive, traders should be mindful of key risks:

⚠️ Support Retest: Failure to hold the $6.50 - $7.00 support zone could result in a deeper correction.

⚠️ Bitcoin Influence: RAY’s movement remains correlated with Bitcoin. If BTC faces rejection at key resistance levels, altcoins like RAY could experience increased selling pressure.

Price Outlook & Trading Strategy

If RAY maintains support above $7.00, the next upside targets are $8.50 - $10.00 in the coming weeks.

Traders should watch for volume confirmations and retracements as strategic buying opportunities.

Market Sentiment: Bullish or Bearish?

What’s your outlook on RAY? Will it break key resistance and push towards $10? Share your thoughts and price targets in the comments!

#RAY/USDT