A 58.65% surge in the last 24 h catapulted RAY from $0.84 to $1.41, with volume topping $27.9 M. The 9‑period SMA sits above the 21‑period SMA, signalling short‑term strength, while the RSI at 76.5 warns of a possible pullback. The surge aligns with a 61% jump reported in a recent Raydium update, suggesting growing on‑chain activity.
The market is still bullish, but the elevated RSI and high price relative to the 24‑h low indicate overextension. If the price slips below the 9‑SMA (~$1.26) or the 21‑SMA (~$1.11), momentum could reverse.
**Action**: HOLD for now, as the trend remains up but caution is advised.
**Target**: $1.60 if the rally continues.
**Invalidation**: $1.15 – a break below the 21‑SMA would signal a shift.
What do you think will drive RAY’s next move?
#RAY #Raydium #CryptoAnalysis
The market is still bullish, but the elevated RSI and high price relative to the 24‑h low indicate overextension. If the price slips below the 9‑SMA (~$1.26) or the 21‑SMA (~$1.11), momentum could reverse.
**Action**: HOLD for now, as the trend remains up but caution is advised.
**Target**: $1.60 if the rally continues.
**Invalidation**: $1.15 – a break below the 21‑SMA would signal a shift.
What do you think will drive RAY’s next move?
#RAY #Raydium #CryptoAnalysis
