Raydium (RAY) Surges 30% Amid Technical Breakout and $4.36M Inflows

The price of Raydium (RAY) surged on August 11, reaching $3.3287 after rebounding from a recent low of $2.56 the previous week. The rally has pushed the price to the upper boundary of a long-term descending triangle pattern on the daily chart. Immediate resistance is expected between $3.40 and $3.58, with the 0.236 Fibonacci retracement on the weekly chart at $2.9244 already surpassed. This has shifted the long-term bias in favor of buyers, with the next major target at the $3.858 Fibonacci 0.382 level [1].

On the daily chart, RAY has rebounded aggressively, testing the descending trendline that has capped rallies since April. The Chande Momentum Oscillator reads 58.50, confirming strong upward momentum. The 4-hour chart shows RAY trading near the upper Bollinger Band at $3.4059, having broken through several key EMAs, including EMA20 at $3.0110, EMA50 at $2.9142, EMA100 at $2.8805, and EMA200 at $2.7862 [1].

The rally is supported by a combination of technical breakout momentum and strong market flows. The price has moved above the $3.0110, $2.9392, and $2.4725 Bollinger Band midlines, signaling that volatility is favoring buyers. The 1D Supertrend remains bullish above $2.7200, aligning with prior breakout levels. DMI readings show +DI at 50.71 well above -DI at 19.09, with ADX at 22.03, indicating accelerating trend strength [1].

On August 10, RAY recorded spot inflows of $4.36 million, highlighting significant accumulation interest. These large inflows suggest institutional or large-lot traders are positioning for higher levels, reinforcing the sustainability of the current rally [1].

Intraday action is focused on the VWAP at $3.3590, a critical level for determining whether RAY can retest $3.40 and attempt a breakout. The Bollinger Band upper line on the 4-hour chart at $3.4059 remains the nearest resistance. Clearing this level with volume would confirm continuation toward $3.4690 and beyond [1].

In the bullish scenario, a sustained break above $3.4059 would set the stage for a move toward $3.4690, followed by the $3.858 Fibonacci 0.382 level. Surpassing $3.858 would open the path to the $4.6130 level. However, the immediate hurdle remains $3.40–$3.41. This outlook remains valid as long as price holds above the EMA20 on the 4-hour chart at $3.0110 and the VWAP at $3.3590 [1].

In the bearish scenario, rejection at $3.40 and a drop below VWAP at $3.3590 would shift focus to $3.1667, followed by $2.9392 at the 4-hour Bollinger Band midline. A break beneath the Supertrend at $2.7200 would neutralize the current bullish structure and open the downside to $2.4725. Given the strong trend readings and high inflows, the confidence level for a bullish continuation is medium-high, provided resistance at $3.40 is cleared on volume [1].

Source: [1] Raydium (RAY) Price Prediction for August 11 (https://coinedition.com/raydium-ray-price-prediction-for-august-11/)