Raydium (RAY) Price Prediction for August 11
Main Idea
Raydium (RAY) price is trading at $3.3287, showing strong upward momentum with key resistance levels at $3.40-$3.58 and potential for further gains if it breaks through these levels.
Key Points
1. RAY price has rallied from $2.56 to $3.3287, approaching the upper boundary of a descending triangle pattern on the daily chart.
2. Key resistance levels are identified at $3.40-$3.58, with further upside targets at $3.858 (0.382 Fibonacci retracement) and $4.6130 (0.5 Fibonacci retracement).
3. Technical indicators like the Chande Momentum Oscillator (58.50) and DMI (+DI at 50.71, -DI at 19.09) confirm strong bullish momentum.
4. A break above $3.4059 could lead to a rally toward $3.858, while a drop below $3.3590 (VWAP) may shift focus to support levels at $3.1667 and $2.9392.
5. The Supertrend remains bullish above $2.7200, which is a critical level to maintain the current upward trend.
Description
RAY price today is trading at $3.3287 after a sharp rally from last week’s low near $2.56. The move has brought price to the upper boundary of a long-term descending triangle pattern visible on the daily chart, with immediate resistance between $3.40 and $3.58. The rally has also carried price above the 0.236 Fibonacci retracement on the weekly chart at $2.9244, shifting the higher timeframe bias in favor of buyers. The next 24 hours will hinge on whether bulls can sustain momentum through $3.40...
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