Crypto Market News

06/05 20:13

Raydium Price at Risk: Will $2.2 Support Prevent I

Raydium Price at Risk: Will $2.2 Support Prevent It? In mid-May, Raydium [RAY] broke above $2.85, breaking the bullish market structure. Naturally, RAY had been in a range since April, with the price fluctuating between $2.4 and $3.4. The average level was $2.9, and the brief breakout in May now looks like a false breakout.

Over the past two weeks, the CMF has fallen significantly below -0.05. This indicated strong selling pressure and significant capital outflows in the RAY market.

With the token threatening to free fall below the range low, an influx of buying pressure would be welcome.

The A/D indicator has shown no such signs.

It has been slowly falling over the past three weeks, reflecting the weakness of the bulls.  RSI also highlighted a solid bearish

Heavy buying volume two weeks ago coupled with momentum and structure is likely to push RAY towards $4. Bitcoin [BTC]'s drop from $111K over the past ten days has dashed those bullish hopes

#Check In Daily, Win Prizes Daily — Join the Fun!#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge

3シェア