Raydium's (RAY) price surged by 21%, raising questions about a potential market reversal.
Raydium, the Solana-based cryptocurrency, has been on an uptrend, surging by 21% on August 13, 2025. However, its price action and technical analysis suggest a potential resistance at the $3.65 level.
Over the past 24 hours, exchanges have recorded inflows of $2.58 million worth of RAY, potentially hinting at potential dumping as the altcoin approaches historical levels on the price charts. This influx of tokens to exchanges has raised concerns of sell-offs near the $3.65 level.
The $3.65 price level has historically acted as a significant resistance point that triggers selling pressure. In fact, RAY's price has hit the $3.65 level more than four times since May 2025, each time facing significant selling pressure.
Despite strong rallies, RAY has struggled to sustainably close above $3.65. This resistance has created a bottleneck effect, with repeated price rejections since May 2025.
However, there are factors supporting a potential breakout. Raydium conducted sizable buyback programs funded by LaunchLab fees, removing millions of RAY tokens. For instance, $5.7 million in July buybacks and $12.3 million in July-August were executed, creating deflationary pressure and supporting higher prices if the resistance is broken.
Technical indicators also suggest momentum. Before reaching $3.65, bullish signals appeared—RSI near 66-68 and positive MACD—showing momentum. However, the overbought RSI signals some risk of reversal.
Accumulation below resistance is another supporting factor. Whales have accumulated positions at the $3.28 support level during market dips, cushioning downside risk. However, weak momentum indicators below resistance suggest caution.
If RAY can break and sustain above $3.65, it could lead to a significant upswing with targets around $4.75 to $5.67. This is backed by positive volume, buyback programs, and protocol growth.
Conversely, failure to clear $3.65 may lead to further sell-offs as seen historically, particularly since overbought momentum and exchange inflows often trigger profit-taking.
In summary, $3.65 is a key psychological and technical resistance level causing past selling pressure in Raydium’s price action. Whether RAY can decisively break this level amid supportive fundamentals and buybacks will heavily influence its near- to medium-term price trajectory.
Currently, the RSI for RAY stands at 66, suggesting that while the asset may be approaching overbought territory, it still has room for further upside. The Supertrend indicator for RAY has turned green and is positioned below its price, indicating strong buying pressure.
However, a well-followed crypto expert has expressed concern that RAY may face selling pressure at the $3.65 level. The current price of RAY is $3.60. There are concerns about whether RAY will repeat its past behavior or end its prolonged resistance at the $3.65 level.
Sources:
- Coinglass, an on-chain analytics platform
- Various trading platforms
- Raydium official announcements
- Technical analysis platforms
- Crypto experts' opinions
- Raydium's Solana-based cryptocurrency, RAY, surged by 21% on August 13, 2025, but technical analysis suggests a potential resistance at the $3.65 level.
- Over the past 24 hours, exchanges have recorded inflows of $2.58 million worth of RAY, potentially hinting at potential dumping as the altcoin approaches historical levels on the price charts.
- Despite strong rallies, RAY has struggled to sustainably close above $3.65, creating a bottleneck effect with repeated price rejections since May 2025.
- Technical indicators such as RSI near 66-68 and positive MACD show momentum for RAY, but overbought RSI signals some risk of reversal.
- Raydium's buyback programs, funded by LaunchLab fees, have removed millions of RAY tokens and created deflationary pressure, potentially supporting higher prices if the resistance is broken.
- Current market sentiment, backed by positive volume, buyback programs, and protocol growth, suggests that if RAY can break and sustain above $3.65, it could lead to a significant upswing with targets around $4.75 to $5.67. However, concerns about selling pressure at the $3.65 level and exchange inflows often trigger profit-taking, potentially leading to further sell-offs.
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