Raydium Market Overview: Bullish Breakout Confirmed with Caution

• Raydium (RAYUSDT) rallied from $3.55 to $3.79 on strong afternoon volume and bullish momentum.
• A key resistance at $3.75–$3.76 was cleared, with volume confirming the breakout.
• Overbought RSI and narrowing Bollinger Bands suggest possible consolidation ahead.
• Early morning bearish reversal cues reversed midday as buyers reclaimed control.
• 24-hour turnover surged to $11.3M, signaling heightened market interest.

Market Overview

Raydium (RAYUSDT) opened at $3.55 on 2025-08-16 at 12:00 ET and surged to $3.79 by 12:00 ET the next day, reaching an intraday high of $3.79 and a low of $3.529. Total 24-hour trading volume hit 915,500 RAY, with a notional turnover of approximately $11.3 million.

Structure & Formations

The 15-minute chart shows a bullish reversal pattern forming in the early morning (0000–0400 ET) as the asset found support near $3.55 and then surged higher. A strong engulfing pattern emerged around 0415 ET, breaking above $3.678 and continuing higher. The price then consolidated briefly before another bullish breakout above $3.75 at 1500 ET. Key resistance levels at $3.62, $3.70, and $3.76 were sequentially cleared, with support zones forming at $3.57, $3.54, and $3.529.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are bullish and aligned, with price above both. The 50-period line currently sits at around $3.69, offering potential near-term support. On the daily chart, the price closed above the 50 and 200-day moving averages, suggesting a continuation of the longer-term bullish trend.

MACD & RSI

The MACD crossed above the signal line around 0400 ET, confirming bullish momentum. RSI surged into overbought territory during the late morning and afternoon session, peaking at 75–80. This suggests that further upward momentum may pause or reverse in the short term, but as long as RSI remains above 50 and the MACD remains positive, the trend appears intact.

Bollinger Bands

Bollinger Bands expanded in the morning and afternoon, indicating rising volatility. Price action in the last 6 hours of the 24-hour window remained near the upper band, suggesting continued strength. However, a narrowing of the bands may precede a consolidation or directional shift in the next 24 hours.

Volume & Turnover

Volume surged to over 200,000 RAY during key bullish moves (0415–0600 ET and 1445–1600 ET), confirming strong buyer participation. Notional turnover also spiked during these periods, aligning with price advances. No notable divergence between price and volume was observed, suggesting strong conviction in the rally.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $3.529 to $3.794, the 61.8% level is at $3.697. Price tested and held above this level, confirming its strength. On the daily chart, key retracement levels from the recent low to high remain intact, with $3.62–$3.66 serving as critical support if the current rally stalls.

Looking ahead, Raydium (RAYUSDT) appears to have momentum in favor of the bulls, with key resistance now cleared. However, overbought RSI and high volatility suggest that a pullback or consolidation may follow. Investors should monitor price action near $3.75–$3.76 and volume levels to confirm the strength of any next move. As always, risk management remains critical amid high volatility.