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Raydium (Ray) is currently experiencing a remarkable resurgence in the price, gaining attention from both traders and long -term investors throughout cryptocurrencies.
After a strong rebound from USD 2.40 to USD 3.86, the Token has entered a phase of consolidation, now quoting around USD 3.25, indicating the possibility of another bullish section.
This upward movement is being mainly driven by The Raydium ongoing tokens program programwhich has become an important catalyst to reinforce the bullish impulse within the market.
The Ray Tokens Repurning Program
Since mid -March, Raydium has maintained constant repurchases, assigning 12% of the negotiation rates for the purchase of Ray in the open market.
Although the intensity of the repurchase has decreased slightly, its continuous presence and its periodic peaks have provided a solid demand base for the token.
Raydium pricing analysis
The technical configuration has also become decisively positive, with Ray printing a consistent series of five higher maximum and minimum, which indicates a strong upward trend.
At the same time, the price has remained above both the 20 -day exponential mobile average and the simple 50 -day mobile average, which reinforces the upward feeling among the traders.
These two indicators have maintained an upward crossing since mid -April, and this trend has not yet shown signs of weakening.
Currently, the local resistance is found in 3.50 dollars, and a successful breakdown above this level could trigger a rapid movement towards the next key resistance in 4.20 dollars.
This objective level previously acted as a critical support zone before the mass sale of February and now stands as the next bullish milestone.
If Raydium manages to reach $ 4.20, he would represent a gain of almost 30% from his current contribution level, which would even more attract attention to the asset.
The relative force index (RSI) is currently about 57, indicating that the Token is neither overwhelmed or oversized, and suggests that there is a wide margin for new profits.
If the 4.20 dollars are exceeded, the next notable resistance level is around 5.70 dollars, where the Token faced repeated rejections before and after the rebound that reached its maximum point in January.
Despite the bullish configuration, a fall below the key support level of USD 2.20 would invalidate the bullish thesis and open the door to a possible fall to USD 1.50.
However, the trend is still structurally strong, with impulse indicators that support a continuous short -term rise.
The platform also has a total blocked value (TVL) of more than USD 2.07 billion, which highlights its outstanding role in the Defi Ecosystem based on Solana.
Only in the last 24 hours, the volume of operations has exceeded 79.5 million dollars, which reflects a greater interest in the Token during this consolidation phase.
From a historical perspective, Raydium reached a historical maximum of $ 16.83 in September 2021, while its lowest point arrived in December 2022 to 0,1344 dollars.
Since then, cryptocurrency has shown a significant recovery, backed by both market participation and on internal initiatives such as Tokens repurchase.
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