Raydium Springs Up From Underwater, Could This Be A Ray Of Hope?

The price of Raydium (RAY) drops to $0.7 against Tether (USDT) from its all-time high of $15 as it eyes to bounce from its low. Despite the relief bounce across most crypto assets, the price of Raydium (RAY) has continued to remain dormant at its all-time low. (Data from Binance) Related Reading: Blue Chip NFTs 101 – With Mint Impending, Is y00ts A Blue Chip Lock? Raydium (RAY) Price Analysis On The Weekly Chart The price of RAY crashed to its low of $0.7 by over 95% from a high of $15 after seeing several rejections from areas of resistance. RAY has shown little bullish moves on the weekly chart, as this could suggest a bullish move could happen in no distant time. With bulls buying RAY at this valued price, we could see the price going to $3.5, acting as the next significant resistance for RAY’s price. If there are no buy orders, we could see the price of RAY range between the values of $0.55-$0.7 as these prices act as support areas. If the price of RAY maintains its current structure, we could retest the resistance at $2.5-$3.5, depending on the buy volume orders. Weekly resistance for the price of RAY – $0.25-$0.35. Weekly support for the price of RAY – $0.55-$0.7. Price Analysis Of RAY On The Daily (1D) Chart The price of RAY found its daily low at $0.6 and quickly bounced off the area where it has formed good support. RAY’s price moved to a region of $0.7 but could not sustain its movement as it ...