American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Raydium price analysis: Will this Uniswap competitor surge to $10?

by admin November 7, 2024
November 7, 2024
Raydium price analysis: Will this Uniswap competitor surge to $10?

Raydium (RAY) token went parabolic this week, soaring to its highest level since January 2022 as the crypto bull run entered high gear. RAY’s crypto token surged to a high of $4.25, much higher than the year-to-date high of $0.94, representing a 365% jump.

Raydium price surges as DEX volume soars

Raydium, the biggest decentralized exchange network on Solana is doing well as it continues to gain substantial market share.

Data by DeFi Llama shows that Raydium has grown its total value locked (TVL) in its platform to over $1.5 billion. In terms of these assets, it is the 26th biggest player in the DeFi industry.

However, in terms of the volume of assets it processes each day, Raydium has become the second one in the industry after Uniswap.

Data shows that Raydium’s network handled over $1.69 billion in assets in the past 24 hours as cryptocurrencies jumped. Its cumulative volume over time was over $167 billion, a figure that will continue rising.

The cumulative figure is the fourth biggest after Uniswap, PancakeSwap, and Curve Finance, making it a dominant player in DEX.

Raydium has handled $8.7 billion in the last seven days. Also, October was its best month as it processed over $30.38 billion in assets during the month.

Raydium’s performance has been because of the vibrant nature of the Solana ecosystem. Solana itself has surged and is approaching the important resistance point at $200. It has jumped by over 2,080% from its lowest level in 2023.

Most notably, many coins in the Solana ecosystem are soaring. For example, Grass, which launched its airdrop last week, has grown to become a $2 billion token. 

Similarly, most Solana meme coins like Dogwifhat, Bonk, Popcat, and Goatseus Maximums have roared back. Their 24-hour volume jumped to $4.9 billion, while their market cap jumped to $13.2 billion.

Crypto analysts are highly bullish on the RAY price. In an X post, a trader known as Otsukimi Star Lord, who has over 11k followers, pointed that the coin would jump by over 32% after flipping a key resistance. 

Otsukimi Star Lord

@OtsukimiOtsu

·Follow

$RAY another 32%

Flipping through its parabolic trend break, should see this accelerate.

2:48 AM · Nov 7, 2024

3

Reply

Read more on Twitter

Raydium price also jumped after Donald Trump won the election, staging the biggest political comeback in decades.

Could the RAY token price jump to $10?

RAY chart by TradingView

The daily chart shows that the Raydium token price has been in a strong bull run in the past few months. Precisely, it has soared by over 2,700% from its lowest level in 2023.

Raydium has now flipped the important resistance at $3.28, its highest swing in March, and the upper side of the cup and handle pattern. The C&H is one of the most bullish signs in the market.

Raydium price has moved above all moving averages, while the Stochastic Oscillator has moved to the overbought level. The Relative Strength Index (RSI) and the MACD indicators have all pointed upwards. 

Therefore, the path of the least resistance for the RAY price is bullish as the Fear of Missing Out (FOMO) returns. But before that happns, the token could drop and retest the support at $3.2, the upper side of the cup and handle. A break and retest is one of the most popular signs of continuation. 

If this happens, Raydium price could jump to $10, which implies a 138% increase from the current level. A 138% increase is highly possible for a coin that has already surged by over 2,700% in the last twelve months. 

The bullish view will become invalid if the RAY token plunges below $3. If this happens, the token will likely drop and retest the top support at $2.5.

The post Raydium price analysis: Will this Uniswap competitor surge to $10? appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Aerodrome Finance analysis: crypto pro sees AERO token surging 10x
next post
AAVE price prediction: crypto pros see more gains ahead

Related Posts

Cardiex Limited

April 19, 2024

AMD stock price forecast: buy or sell ahead...

October 28, 2024

Oil and Gas Price Update: Q2 2024 in...

August 2, 2024

Nifty 50 forecast ahead of Infosys, Bajaj Finance,...

July 22, 2025

Crypto price predictions: Zebec Network, Hedera HBAR, Ethena

August 2, 2025

UAE Suspends 32 Gold Refineries in Anti-Money Laundering...

August 10, 2024

AUD/USD and ASX 200 on edge ahead of...

July 6, 2025

DAX Index analysis ahead of the ECB decision:...

April 17, 2025

Diageo share price crashes to key support before...

August 4, 2025

The Red-Hot Case for Copper as an Inflation...

February 14, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • How Donald Trump’s immigration crackdown may tank the labor market

      August 4, 2025
    • Trump’s tariff threat looms over India’s Russian oil deals

      August 4, 2025
    • Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

      August 3, 2025
    • BOE rate cuts offer little relief as UK households face mounting financial strain

      August 3, 2025
    • Retail investors shift focus to Europe as US valuations stretch

      August 3, 2025

    Categories

    • Business (3,583)
    • Investing (2,703)
    • Latest News (2,031)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved