Raydium’s native token, RAY, has surged a powerful 665.45% in 2024, cementing its standing as one of many 12 months’s top-performing cryptocurrencies. The platform lately overtook Uniswap in month-to-month DEX volumes, fueled by a $23 billion spike inside a single week.
Because the dominant decentralized change in Solana ecosystem, Raydium continues to profit from its market management and rising adoption.
Raydium Is Now One of many Most Worthwhile Companies In Crypto
Raydium has solidified its place because the main Decentralized Trade (DEX) within the Solana ecosystem, attaining a staggering weekly quantity of $23 billion between December 2 and December 9. This determine surpasses the mixed volumes of its closest opponents: Orca, Pumpfun, Meteora, and Lifinity.
Raydium’s market share now accounts for almost 50% of all DEX volumes on Solana, benefiting from the curiosity on meme cash.
Over the previous 30 days, Raydium has additionally generated $226 million in charges, surpassing notable platforms like Jito, Uniswap, Circle, and even Solana itself. It ranks simply behind Ethereum and Tether.
With Solana’s ecosystem experiencing important progress, Raydium’s place as its most dominant utility creates robust tailwinds for its value.
RAY RSI Is Reaching Overbought Ranges
Raydium Relative Energy Index (RSI) has skilled a speedy enhance, climbing from 26 to 70 in underneath two days. This important leap displays robust shopping for momentum pushed by the latest value surge.
An RSI at these ranges signifies that RAY has moved from being oversold to approaching overbought territory, signaling heightened market curiosity and demand.
The RSI is a momentum oscillator that ranges from 0 to 100, measuring the pace and magnitude of value modifications. Values under 30 counsel oversold circumstances, usually previous a rebound, whereas values above 70 point out overbought circumstances, which might sign a possible correction.
At the moment, RAY RSI is at 69, on the verge of crossing into overbought territory. If the RSI surpasses 70, it might point out additional upside potential earlier than a pullback happens.
Raydium Worth Prediction: Will It Rise Again to $6 In December?
Raydium Exponential Transferring Common (EMA) strains have displayed a singular shift in momentum. Simply two days in the past, they fashioned a loss of life cross, with the shortest-term EMA crossing under the longest-term EMA, signaling bearish sentiment.
Nonetheless, Raydium value started to get better swiftly, and the shortest EMA has now crossed again above the longest, signaling a bullish reversal. This transfer has coincided with a 20% value enhance within the final 24 hours, highlighting the energy of the present momentum.
If this bullish momentum persists, RAY value might take a look at its closest resistance at $5.9 and doubtlessly $6.25. Breaking by these ranges might result in an additional rise to $6.46, representing a doable 14% upside. That might be pushed particularly if meme cash proceed to draw consideration and turn out to be one of many main narratives in crypto.
Conversely, if the present momentum fades, RAY may retest assist at $5.19. A failure to carry at that degree might drive the worth down additional to $4.67.
Disclaimer
Consistent with the Belief Undertaking pointers, this value evaluation article is for informational functions solely and shouldn’t be thought-about monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to alter with out discover. All the time conduct your personal analysis and seek the advice of with knowledgeable earlier than making any monetary choices. Please word that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.