TLDR:
- The RAY token rose over 11% in 24 hours, reaching $0.69 following an explosion in market participation.
- Trading volume reached $60.5 million, marking a decisive shift from months of bearish trend.
- Technical indicators such as the RSI show a recovery from oversold territory, suggesting a strengthening momentum.
The Solana ecosystem recently witnessed a volatile movement as Raydium trading volume surges strongly. This sudden increase, exceeding 200%, caused the price of RAY to break a descending resistance line that had been in place for several months.
After reclaiming the $0.65 zone, the asset is now in an expansion phase that forces market participants to reassess their positions. However, analysts warn that volume alone does not guarantee continuity without real buying conviction.
While there is optimism, the market remains attentive to whether this rally is the beginning of a lasting reversal or simply a short-term liquidity sweep. Therefore, consolidation above current levels will be decisive in the coming days.
Technical analysis and liquidation risks amid rising leverage
Open Interest (OI) grew by 17.81%, reaching $5.14 million, indicating the entry of new leveraged positions. While this can amplify gains in a bullish scenario, it also raises the risk of liquidations in the event of a sharp pullback.
On the other hand, net flow toward exchanges showed positive signs, with deposits of approximately $572,000 into centralized platforms. This behavior typically precedes profit-taking, which introduces a distribution risk that could stall the current advance.
In summary, Raydium shows an early structural improvement, but it must overcome the horizontal resistance at $0.857 to confirm its strength. Meanwhile, the sustainability of the movement will depend on aggressive demand returning to counter the growing selling pressure.
