đ $RAY just surged 14% in a day⊠but the REAL opportunity might be hiding in the traders betting against it! đ đ
Remember when #Raydium was trading near $0.90? RAY climbed to $2.56 on October 7, gaining roughly 184% from its September breakout. Now it's around $2.31.
But here's where things get spicy. đ„
While RAY was pumping, traders kept opening short positions, expecting the rally to collapse. Open interest surged above $20M, while funding plunged close to -0.20%.
Translation? Many traders were betting against the move.
Then open interest dropped to $16.3M, but funding remained negative at -0.08%. Some positions may have been shaken out, yet bearish positioning hasn't completely disappeared.
And there's a bigger reason behind this rallyâŠ
Raydium processed around $6.1B of Solana's $12.4B tokenized-stock DEX volume this year. September's tokenized equity volume also jumped to roughly $260M, up from less than $40M in August.
That's REAL trading activity backing the hype. đ
My take: RAY has momentum, but after such a massive run, profit-taking could trigger a sharp pullback. Holding above $2.30 could help sustain the recovery, while losing that area may invite deeper downside. A fresh breakout needs strong volume to confirm continuation.
â ïž The biggest danger? Chasing the pump after the easy gains are already gone.
If short pressure builds again, could RAY squeeze toward new highs⊠or is this rally about to exhaust itself?
Remember when #Raydium was trading near $0.90? RAY climbed to $2.56 on October 7, gaining roughly 184% from its September breakout. Now it's around $2.31.
But here's where things get spicy. đ„
While RAY was pumping, traders kept opening short positions, expecting the rally to collapse. Open interest surged above $20M, while funding plunged close to -0.20%.
Translation? Many traders were betting against the move.
Then open interest dropped to $16.3M, but funding remained negative at -0.08%. Some positions may have been shaken out, yet bearish positioning hasn't completely disappeared.
And there's a bigger reason behind this rallyâŠ
Raydium processed around $6.1B of Solana's $12.4B tokenized-stock DEX volume this year. September's tokenized equity volume also jumped to roughly $260M, up from less than $40M in August.
That's REAL trading activity backing the hype. đ
My take: RAY has momentum, but after such a massive run, profit-taking could trigger a sharp pullback. Holding above $2.30 could help sustain the recovery, while losing that area may invite deeper downside. A fresh breakout needs strong volume to confirm continuation.
â ïž The biggest danger? Chasing the pump after the easy gains are already gone.
If short pressure builds again, could RAY squeeze toward new highs⊠or is this rally about to exhaust itself?