Solana News Today: Raydium RAY Soars 74.93% Monthly on Technical Breakouts, Eyes $3.60 Hurdle

Raydium (RAY), a token within the Solana ecosystem, has seen a significant upward trend in recent weeks, drawing attention from traders and analysts. After a clear reversal in early July, the price is now testing critical resistance at approximately $3.60, a level that could determine the next phase of its trajectory. Current trading data shows RAY hovering around $3.39, with a daily gain exceeding 3% on major exchanges such as Binance. This movement follows a broader bullish setup that has been developing since mid-July.

The price action has been underpinned by a key technical milestone: a clean breakout above the 200-period Simple Moving Average (SMA) on July 7. This level, historically associated with trend reversals, has since acted as dynamic support at $2.39. RAY has continued to form higher highs and higher lows, reinforcing the bullish structure. The 200-SMA remains a critical threshold; as long as the price remains above it, the upward bias remains intact.

Another technical marker guiding RAY’s rally is a rising trendline that has held firm since the July breakout. This trendline provided a clean bounce on July 19, propelling the price toward $3.60. To date, the price has not closed below this trendline, maintaining control for bullish participants. Continued adherence to this support could keep the rally on track, with the next immediate focus on breaking through the $3.60 resistance.

For traders monitoring potential pullbacks, key support zones include the $2.90–$3.00 range and the trendline itself. Deeper support at the 200-SMA ($2.39) offers a secondary level to watch. On the upside, a successful breakout above $3.60 could target $3.90 or even $4.00 in the short term, particularly if trading volume surges to confirm the move. Analysts emphasize that maintaining the $3.60 level is crucial for sustaining momentum and validating the broader bullish case.

RAY’s recent performance highlights its resilience amid broader market conditions. The token has surged past $3.15, a key support level, and is currently up 74.93% monthly against the U.S. dollar. This outperformance within the Solana ecosystem has positioned RAY as a standout asset, with some observers suggesting it could benefit from continued adoption in decentralized finance (DeFi) protocols. However, any near-term gains remain contingent on overcoming resistance at $3.60 and maintaining a strong technical foundation.

Longer-term projections for RAY remain speculative, with some analysts forecasting potential for a multi-year rally toward $20–$22, contingent on broader market cycles such as Bitcoin’s four-year halving event. These forecasts, however, require caution, as they depend on future macroeconomic factors and regulatory developments. For now, the focus remains on immediate technical levels, with traders advised to monitor the 200-SMA and trendline for signs of a potential reversal.

The Solana ecosystem has seen synchronized gains, with RAY outperforming many peers. A 21.01% weekly increase underscores its role as a leading performer, though sustainability will depend on maintaining utility and adoption within DeFi. Investors are encouraged to balance technical analysis with fundamental considerations, including ecosystem growth and on-chain activity, to assess the viability of the current rally.

Overall, RAY’s trajectory reflects a combination of short-term bullish momentum and strategic technical developments. The $3.60 level serves as a pivotal inflection point, with its outcome likely to shape near-term volatility and investor sentiment. Traders should remain vigilant about key resistance and support zones, ensuring that decisions are grounded in both price action and broader market context.