21% gains for Raydium’s (RAY) price, but is a dump incoming now?

Key Points

1. RAY's price surged by 21% on 13 August 2025, reaching $3.60, with trading volume up 90% in 24 hours.

2. A breach of the $3.65 resistance level could lead to a 30% price increase, potentially reaching $4.75 or even $5.67.

3. $2.58 million worth of RAY was moved to exchanges, indicating potential dumping.

4. The Relative Strength Index (RSI) stood at 66, suggesting the asset is approaching overbought territory.

5. RAY has tested the $3.65 level multiple times since May 2025, each time facing rejection.