- Raydium (RAY) broke above $3.50 resistance after an ascending triangle formation, with weekly gains of +8.72%, signaling bullish market momentum.
- Strong fundamentals include steady revenue growth, regular token buybacks, favorable tokenomics, and active staking incentives with most tokens circulating.
- Total value locked stands at $2.269B, with $32.36B 30-day DEX volume and $810.69M perpetuals volume sustaining liquidity and market depth.
Raydium (RAY) is exhibiting a healthy mix of technical strength and improving on-chain indicators. The token recently broke a major resistance level, attracting new interest from traders and fueling rumors of a breakout to new price levels.
Technical Setup Points Toward Higher Price Targets
On the weekly timeframe, RAY has maintained an upward market structure after a prolonged consolidation phase. The formation of higher lows indicates sustained buyer interest and defense of support zones. This pattern recently culminated in a breakout above the $3.50 resistance.
The price structure since late 2024 has developed into an ascending triangle formation, generally seen as a sign of accumulation. The breakout from this setup coincides with strong momentum, with the weekly gain standing at +8.72%.
Current technical analysis places the next major resistance near $14, a historical supply zone that has previously limited price advances. If RAY surpasses this level, the next upside target could extend beyond $20, potentially marking a notable breakout in the altcoin market.
Fundamental Strength Aligns With Price Action
According to Rendoshi Ondomoto, RAY’s fundamentals remain solid, supported by steady revenue growth, regular token buybacks, favorable tokenomics, and active staking incentives. With most tokens already circulating, supply pressures remain limited.
Token buybacks reduce available market supply, helping support price stability. Staking rewards encourage long-term holding, further limiting sell pressure from active participants. This structure creates an environment where technical and fundamental factors reinforce each other.
Such alignment between market structure and core metrics suggests that RAY’s recent price movements may not be short-lived, provided current momentum is maintained and platform activity remains strong.
From Crisis to a Resilient Market Recovery
Leandro Crypto noted that RAY has rebounded strongly from challenges such as the FTX collapse and a critical infrastructure hack. This recovery has restored confidence in the project’s role within the Solana DeFi ecosystem.
Raydium’s total value locked (TVL) currently stands at $2.269 billion, supported by annualized fees of $645.11 million. These figures reflect high engagement levels and ongoing platform usage.
Over the past 30 days, the protocol’s DEX handled $32.36 billion in spot volume and $810.69 million in perpetual trading volume. This active trading environment sustains liquidity and helps maintain healthy market participation.
With a bullish technical setup, solid token economics, and a clear history of coming back, RAY could be set for a big move. A breakout over $14 could indicate the next leg up has started, potentially making it one of the best altcoins in the next cycle.
