- RAY broke past $6.30, signaling potential growth with strong buying pressure.
- Liquidity around $8 suggests it could be the next key price level for RAY.
- High trading volume and RSI indicate strong bullish momentum toward $9.54.
Raydium—RAY, has surged over 62% the past eight days, grabbing the attention of traders. This remarkable spike in price has sparked a lot of interest, leaving people wondering if RAY could soon reach $8. The rally seems to be partly influenced by the recent launch of the Official Trump TRUMP meme coin on the Solana network.
Raydium Breaks Range – What’s Next for RAY?
For the last few months, RAY traded between $4.02 and $6.30. But on January 18, the token broke through this range. This move signaled a shift, with strong buying activity pushing RAY above the previous price range. The On-Balance Volume, an indicator of buying and selling pressure, showed a steady increase, confirming that more people were interested in buying.
Following the breakout, new price targets emerged. Fibonacci retracement levels, drawn from the rallies of October and November, show that RAY could target $7.66 and $9.54 next. These are key levels to watch for resistance. Additionally, the Relative Strength Index (RSI) was above 60, signaling strong bullish momentum. This momentum could carry RAY further up, likely moving toward these targets soon.
Eyes on $8 – Will RAY Consolidate Here?
Looking at the 3-month liquidation heatmap, a significant liquidity pocket has formed around the $8 level. This means there are many orders set at or near this price, creating a natural draw. While a brief dip to $7.12 might happen, the $8 region will likely act as the next major level for RAY.
The 1-week liquidation heatmap confirms the $8 zone’s importance. Once RAY absorbs this liquidity, a push toward $9.54 seems likely. Strong buying pressure and high volume suggest this isn’t just a temporary spike. Raydium’s breakout signals strong potential in the near future.
The $8 target is within reach, with a potential consolidation phase leading to higher prices. After absorbing liquidity at $8, RAY could move toward $9.54, continuing the upward trend in the coming weeks.
