Bittime – Raydium (RAY) defied the recent crypto slump with an incredible 100% gain this week. However, after reaching a new two-year high, the price met resistance and is currently correcting.
Check Today's Crypto Market:
Early March Struggles and Sudden Surge
Raydium started March a bit shaky after briefly topping $1 on February 28. The following weeks the token price fluctuated within a narrow range. However, a spike in volatility pushed RAY to a two-year high of $2.8. This increase coincided with Solana's price rally, indicating the potential for liquidity flow from the leading cryptocurrency .
Technical Analysis: Backtest and Support
Here is the analysis provided according to nulltx.com, technically, RAY lagged behind other Solana tokens during the previous bullish phase. The recent spike indicates a correction, and the price is likely to retest the critical support level at $2. Expect a successful rebound from this point.
Also Read How To Buy Crypto:
Solana Ecosystem Performance
Other Solana-based tokens such as Jupiter, Orca, and Serum also saw significant gains despite the broader market correction. Raydium remains bullish, with a 150% month-on-month increase.
Important Levels to Pay Attention to
Given yesterday's rejection, RAY's main focus is to retest support at $2 . A break below this level could trigger a further decline towards $1,715 . The next critical support is at $1.4 .
On the upside, clearing the $2.6 and $2.8 resistance levels could pave the way for a quick test of $3 , with potential further progress towards $3.4 .
Check Crypto Prices Today:
Current Price of Raydium (RAY).
According to the current Bittime Market, the price of 1 RAY to IDR is at 35,996 and has increased by +11.82% in the last 24 hours
Current Status:
Spot Price: $2.3
Trend: Bullish (with potential for short-term correction)
Volatility: High
Notes:
This analysis is for informational purposes only and should not be considered financial advice.
Make sure you do your own research before making an investment decision.
How to Buy Raydium (RAY) on Bittime
You can buy and sell Raydium (RAY) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Raydium (RAY) is available on Bittime with the market pair RAY/IDR . To be able to buy RAY IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Raydium (RAY) on Bittime .
Monitor the price chart movements of Raydium (RAY), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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