Can RAY Crypto Continue to Surge Upward?

RAY rose by 7.05% in terms of market capitalization and there was an increase of 311.54% in its trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market capitalization is $327,538,951 while its trading volume is $47,883,893. There are currently 254,391,839 RAY tokens in circulation.

Technical Evaluation of RAY Crypto on the Daily Chart 

The Raydium crypto asset is showing bullish traits and it can achieve more growth. It has demonstrated good performance in the past three months, by 560.85%.

The RAY crypto has shown a fantastic upsurge as it advanced from $0.4000 to $2.000. The top-level acted as a resistance and the price slipped and it hit the $1.000 support. After spending enough time at this support level, the price started to show upward momentum.

Moreover, it has demonstrated remarkably good performance in the past week as it rose by 6.78%, indicating a possible reliable upward trend. At the time of publishing, the RAY crypto is experiencing a surge of 3.43% in the last 24 hours, and it is currently trading at $1.30286.

Since the price action showed bullish sentiment, the RAY crypto has displayed a sign of revival as the asset’s price has bounced back from a critical level of around $1.000 on the charts.

The Raydium crypto seems poised for a spectacular rally, as it has prepared in advance by harnessing the bulls’ strength from the current support zone to smash the resistance level. It could soar to new heights if the momentum surges more and it could also stretch further to test the supply region again.

The RAY crypto asset shows bullish strength and rising potential as it stays above the major 20 and 50-day EMAs.

Moreover, the RAY crypto asset exhibits a robust uptrend, positioned above the zero line with a bullish cross. Additionally, the RSI indicates no signs of overbought conditions in the Raydium crypto, implying ample potential for further growth in the asset.

Therefore, if the demand for the RAY crypto continues to surge high, the asset price could continue its ascend higher from the current level. The next goal for the price could be to reach $1.5100.

However, if the RAY crypto price fails to stay above the $1.0000 level, it could decline further towards the demand zone.

Summary

The price action shows bullish sentiment as the RAY crypto has displayed a sign of revival as the asset’s price has bounced back from a critical level of around $1.000 on the charts.

Therefore, if the demand for the RAY crypto continues to surge high, the asset price could continue its ascend more from the current level. The next goal for the price could be to reach $1.5100.

Technical Levels

Support Levels: $1.000

Resistance Levels: $1.5100

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.