Raydium Technical Analysis: RAY Buy Trigger At $0.83

Past Performance of Raydium

Syncing with the rest of the crypto markets, the Raydium crypto price is down. From the daily chart, the coin is down three percent versus the USDT, pulling back from recent highs. Nonetheless, the RAY coin is still within a bullish breakout formation above the middle BB. If prices are above critical support levels, the uptrend might resume.

Raydium Technical Analysis

Raydium token bulls are firmly in charge. Even though there are signs of weakness and bears reversing the gains of July 9, the uptrend is valid. In the short term, the primary support is at the middle BB (the dynamic support line) and $0.70. Therefore, traders may load on every pullback, targeting last week's highs at $0.83 and later $1.05 if bulls press on. Conversely, RAY crypto may tank towards 2022 lows if prices drop below the middle BB with rising trading volumes. In that case, the coin may drop to $0.60 in a bear continuation formation.

What to Expect from RAY?

From the RAY technical analysis, buyers still have a chance. However, the reversal of July 9 gains may slow down optimistic bulls in the short term. Thus far, the immediate support is $0.70. For the uptrend to be valid, prices must hold above this level.