$RAY +23% in 2 weeks, volume has cooled: moving sideways over the weekend, waiting for $BTC
RAY went from 1.90 to 2.33 over 2 weeks. Money flows on Binance:
๐น Average daily Spot volume: 7.4M โ 12.5M USD (week 1 โ week 2)
๐น Average daily Futures volume: 28.8M โ 70.6M USD
๐น On 07/10, total volume was ~214M (about 6 times normal), pushing the price up to 2.47
๐น After that, volume fell back to pre-rally levels, but the price held at 2.29โ2.37
๐น The share of aggressive buy orders on Spot was 49โ53% on nearly every day; no sign of heavy selling yet
๐น Futures open interest: peak of 16.1M (08/10), now 11.3M; funding has been negative for 6 consecutive periods and is nearing 0
I see this as a deleveraging and accumulation phase, not distribution. Over the weekend, BTC/ETH volume is only ~50% of what it is on regular days, so Iโm in no rush to take action.
๐ Next week Iโll be watching:
Whether BTC holds 80.4k; U.S. CPI on Wednesday, 14/10; whether RAY holds 2.27 (3-day low) โ it could try 2.53โ2.60 again; if it loses 2.11 โ down to 2.00
Are you waiting for RAY to break 2.60, or waiting for it to drop to 2.1 before getting in?
Not investment advice. DYOR.
#RAY #Raydium #Solana #Bitcoin
RAY went from 1.90 to 2.33 over 2 weeks. Money flows on Binance:
๐น Average daily Spot volume: 7.4M โ 12.5M USD (week 1 โ week 2)
๐น Average daily Futures volume: 28.8M โ 70.6M USD
๐น On 07/10, total volume was ~214M (about 6 times normal), pushing the price up to 2.47
๐น After that, volume fell back to pre-rally levels, but the price held at 2.29โ2.37
๐น The share of aggressive buy orders on Spot was 49โ53% on nearly every day; no sign of heavy selling yet
๐น Futures open interest: peak of 16.1M (08/10), now 11.3M; funding has been negative for 6 consecutive periods and is nearing 0
I see this as a deleveraging and accumulation phase, not distribution. Over the weekend, BTC/ETH volume is only ~50% of what it is on regular days, so Iโm in no rush to take action.
๐ Next week Iโll be watching:
Whether BTC holds 80.4k; U.S. CPI on Wednesday, 14/10; whether RAY holds 2.27 (3-day low) โ it could try 2.53โ2.60 again; if it loses 2.11 โ down to 2.00
Are you waiting for RAY to break 2.60, or waiting for it to drop to 2.1 before getting in?
Not investment advice. DYOR.
#RAY #Raydium #Solana #Bitcoin