Ray Breaks the Bullish Pennant: Is a 35% Rally Possible
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- Raydium shows numerous bullish signals on the 4-hour timeframe chart.
- RAY’s inflows have remained positive over the past 24 hours, indicating a slight resurgence of bullish activity.
As of now, Raydium [RAY] is trading at $5.57, having increased by 23% in the last 24 hours according to CoinMarketCap. Volume surged by an impressive 94%, reaching $356 million.
The price of RAY has appreciated over 190% from a previously identified breakout point in the trend patterns, implying a potential continuation of this momentum.
The H4 timeframe has indicated several bullish signals for RAY, particularly with its breakout from a bullish pennant pattern—a strong indication for continued upward momentum.
Source: TradingView.
The formation of a bullish pennant occurred after prices significantly increased and then consolidated before breaking out upwards—illustrating solid buying pressure in the market.
>Based on recent trading activity, key resistance levels are noted at approximately $6.40 and $7.60. These increments project potential increases between 35% and 50% following the breakout point…
>The spot inflow/outflow data for RAY displays considerable fluctuations with notable inflow spikes particularly observed in recent weeks—the correlation between these inflows and price changes is evident within RAY trades.
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The heightened net inflows indicate reinvigorated buying interest suggesting an optimistic perspective among traders concerning RAY’s performance / requires careful analysis to monitor proceeding conditions effectively .
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