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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Nov 07, 2024 11:16 UTC
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Raydium (RAY) Price Targets $16.78: Is a 250% Rally Ahead?
Raydium (RAY) rebounds with a 10.71% intraday gain, surpassing $4.78 after breaking above the 100% Fibonacci level.
The rounding bottom reversal and golden EMA crossover signal strong bullish momentum for RAY.
RAY targets the 1.618 Fibonacci level at $6.13, with a long-term upside potential of 250% toward $16.78.
With a rising trend and the broader market recovery, the RAY price bull run creates a new all-time high. As the Solana-based DeFi protocol becomes one of the top performers in the crypto market, bulls target higher price levels.
As the RAY prices approach the $6 breakout, will the bull run reach $16.78? Let’s find out in our Raydium price analysis.
RAY Price Performance
With a recovery rally at play, Radium has crossed its trading at all-time high level. RAY price has surpassed the $1.04 mark and is currently trading at $4.78, with an intraday gain of 10.71%.
The Rounding Bottom Reversal in the daily chart has crossed above its neckline at the 100% Fibonacci level. As the breakout rally gains momentum, the uptrend is likely to create new all-time highs as the broader market recovers.
Technical Indicators:
MACD: The MACD indicator in the daily chart shows a massive surge in the MACD and signal lines, avoiding a bearish crossover. Furthermore, the bullish histograms resurface, signaling a surge in buying pressure.
EMA: As the buying pressure grows, the 50-day and 200-day exponential moving averages maintain a positive trend following the golden crossover.
Raydium Price Targets
As it heads higher to the 1.618 Fibonacci level, priced at $6.13, the broader market anticipates the bull run in this Solana-based one going to surge higher. As Solana Network grows and Solana Network T-Bell heads $6.667 billion, the Radium protocol is likely to expand.
Crossing above the 1.618 Fibonacci level, the upcoming price targets for Radium are at $16.78. Hence, with a massive upside potential of 250%, Radium is one of the best Solana-based tokens to buy.
Will Solana continue to uptrend and flip Ethereum? Find out more in Coinpedia’s SOL Price Prediction.
FAQs
Raydium is currently trading at $4.78, reflecting a 10.71% intraday gain as it rebounds from recent lows.
RAY aims for the 1.618 Fibonacci level at $6.13 in the short term, with a long-term target of $16.78, representing a 250% upside.
Raydium shows strong bullish momentum with a rounding bottom reversal, golden EMA crossover, and its role in the growing Solana ecosystem, making it a promising investment opportunity.
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