Raydium (RAY) Surges 62%: Can It Reach $8?

Total MarketCap:$3,444.36B+0.01%

24H Vol:$139.17B

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SoSo Daily May 18 | Multiple traders have opened large leveraged positions on Hyperliquid, with a certain whale going long 3,788.7 BTC at 40x leverage.

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Jan 21, 2025

Raydium ($RAY) has experienced a 62% increase in value over the past eight days, breaking out of its previous trading range of $4.02 to $6.3. This breakout, supported by high trading volume, suggests strong bullish momentum. The rise in demand for $RAY may be linked to the launch of the Official $Trump ($TRUMP) meme coin on the Solana ($SOL) chain, although $RAY's rally began prior to this event. Technical analysis indicates potential price targets at $7.66 and $9.54, with a significant liquidity pocket at $8. The daily RSI above 60 and steady buying pressure further support the bullish outlook. However, a potential reversal around the $7-$7.1 region is possible before further upward movement. The analysis is based on the author's opinion and does not constitute financial advice.

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BTC:$104,574.1+1.56%ETH:$2,532.57+2.33%ssiMAG7:$21.45+2.40%ssiMeme:$20.66+6.13%

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SOL:$172.49+3.09%DOGE:$0.22607+5.14%ADA:$0.7621+1.01%TRX:$0.2733+1.52%

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