|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Raydium (RAY) Price Could Be Ready for a Big Move – Here's Why
Jan 29, 2025 at 02:30 am
Raydium has grown in the past year, but its price hasn't quite kept pace. Even though RAY brings in more trading fees than other DeFi platforms, its token value hasn't reflected this success yet – though that might be about to change.
Raydium (RAY) has seen an interesting price trajectory over the past few years. After struggling in 2021 and 2022 with prices continuously dropping each month, things started stabilizing in 2022 and early 2023, with RAY consolidating between $1.30 – $2. By the end of 2023, we noticed positive movement.
The breakout from this range occurred in late 2024 and early 2025, with RAY exceeding its previous trading range and increasing in price. This breakout signals that the token is set to continue rising in the near term, with resistance levels now at 7.0 and higher. The price recently crossed over previous resistance zones, indicating the potential for even more significant price movements.
Raydium Key Support and Resistance Levels
The price action of RAY has been shaped by well-defined support and resistance zones. Support levels between $1.3 and $2 were tested numerous times during consolidation phases. As of the most recent chart data, the price has found support around $5.0, and it continues to push toward higher levels, breaking past the $7.0 resistance.
For RAY to maintain its bullish trajectory, key resistance areas to monitor include the $7.0 and $10.0 price levels. A sustained break above these zones could see RAY’s price continuing its upward momentum. However, traders should also keep an eye on RSI levels, which are currently approaching the overbought zone, suggesting a potential for pullbacks or consolidation.
Crypto expert McKenna shared some insights on X about Raydium. He mentioned that RAY has earned more trading fees than Uniswap V3, making it the top revenue generator in the Defi space. Despite this achievement, RAY’s market capitalization is still less than a third of Uniswap's, indicating a discrepancy between its revenue and market value.
Furthermore, unlike Uniswap, Raydium channels a portion of its protocol fees into buybacks of RAY, adding value to holders and keeping the token relatively cheaper compared to competitors.
Over the last year Raydium has earnt more trading fees than Uniswap V3 making it the single largest revenue generator across every single application layer. Despite this, $RAY trades less than 1/3rd of Uniswap's market capitalisation. Unlike Uniswap, Raydium directs a… pic.twitter.com/p2vnMzgmEJ
This unique feature positions Raydium as a strong contender in the Defi space, with its growing fee structure and buyback mechanism potentially driving further growth in RAY’s value. As the market continues to recognize these dynamics, the price of RAY could see a major move soon.
What is Next For RAY’s Price?
Raydium's breakout from recent resistance levels suggests that its upward trend could continue in 2025. While the RSI indicates some caution, the token's overall price action and growth potential, driven by strong trading fees and buyback initiatives, make it a coin to watch.
As RAY’s price works its way through key resistance levels, traders should remain vigilant, watching for further bullish signals while considering the potential for short-term pullbacks.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- SmartLaunch: The Free Service to Bootstrap Great Ideas into Minimum Viable Products (MVPs)
- Jan 31, 2025 at 12:45 am
- Application development is complex, often with a high entry barrier. Blockchain and artificial intelligence (AI) solutions firm SmartLedger has created a service to bootstrap great ideas into minimum viable products (MVPs), even for visionaries without technical skills and financial resources.
-
- Next Cryptocurrency to Explode: Identifying Promising Altcoins and Meme Coins With Explosive Potential
- Jan 31, 2025 at 12:45 am
- Making the most profit from a bull market requires attention to the promising altcoins and meme coins with explosive potential. However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets.