Raydium (RAY) Stabilizes at $2.60 Amid High Volume and Bullish Signals

• Raydium (RAY) trades at $2.60 after a 9.52% daily decline.
• Market cap drops to $746.38M while FDV remains $1.43B.

Raydium (RAY) slipped to an intraday low of $2.51 before staging a modest recovery. At the time of writing, the token trades at $2.60, posting a 9.52% decline over the past 24 hours. Its market capitalization stands at $746.38 million, representing an 8.75% drop. In contrast, the fully diluted valuation (FDV) remains at $1.43 billion, reflecting the asset’s total token potential.

Trading volume surged by 69.34% to $83.71 million, pushing the volume-to-market-cap ratio to a robust 11.35%. Despite the price correction, Raydium maintains a total value locked (TVL) of $1.94 billion. Its market cap to TVL ratio rests at 0.3828, suggesting undervaluation relative to locked liquidity. Currently, 288.58 million RAY tokens circulate, out of a maximum supply of 555 million.

Will RAY plunge further?

From a technical perspective, RAY’s price oscillated within a narrow range after the sharp pullback. The immediate resistance level is visible near $2.65, while support stabilizes around $2.51. A confirmed breakout above $2.65 could initiate a rally toward $2.70. However, a drop below $2.51 may trigger a descent toward $2.45.

On the momentum side, the Relative Strength Index (RSI) reads 61.01, showing moderate bullishness. Meanwhile, the RSI average of 57.78 supports the view of cautious optimism. If the RSI continues climbing, it could validate further upside movement. The RSI remains clear of the overbought zone, which allows room for continued buying.

The Chaikin Money Flow (CMF) indicator flashes green at 0.18. This positive value indicates a growing capital inflow into RAY, which is often a precursor to price appreciation. A sustained CMF above zero could reinforce bullish sentiment.

Overall, Raydium exhibits signs of consolidation following a sharp decline. Key indicators suggest the asset is regaining composure. Should buyers sustain volume and break resistance, the next leg upward could follow. Conversely, failure to hold support may expose the token to another wave of downside pressure.

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