Raydium Crashes 27%—Breakout Halted: These Key Levels Dictate RAY’s Next Move

Raydium’s price action just got ugly—a 27% nosedive stalls its breakout momentum. Now, traders are glued to these make-or-break levels.

Support zones: If RAY holds above $0.85, bulls might salvage a rebound. But drop below? Brace for a retest of June lows.

Resistance overhead: The $1.20 area remains a brick wall. Until that cracks, rallies are just dead-cat bounces—or as Wall Street calls them, ’liquidity events.’

Bottom line: Raydium’s chart is a battlefield. Pick your side—or just watch the leverage traders get rekt.

RAY retests the high-volume support zone

Source: RAY/USDT on TradingView

In mid-April, Raydium’s rally was briefly halted at the $2.4 level. It fell to $2.15 before surging beyond the previous swing high at $2.49.

This price action carved out a bullish order block, also known as a high-volume support region, between $2.22 and $2.30. At the time of writing, the price hovered just above this zone, preparing for a possible reaction.

The A/D indicator has formed higher lows since early April, showing increased demand for Raydium’s utility token. However, recent selling pressure has caused the A/D line to decline.

If the A/D continues dropping, the $2.15 support level may not hold.

The MFI has fallen below neutral 50, indicating bearish dominance is growing. While it hasn’t confirmed a breakdown, traders should remain cautious.

Liquidation Heatmaps highlight bearish targets

Source: Coinglass

The 1-month Liquidation Heatmap agreed with the findings from the technical analysis.

It also showed that continued downward momentum was likely for RAY. The build-up of liquidation levels at $1.97-$2.08 marked a bearish price target.

Source: Coinglass

Additionally, the 24-hour Heatmap identifies $2.20 as a short-term price target. A cascade of long liquidations at this level could push Raydium’s price toward $2.10 or lower.

Hence, traders should anticipate a retest of the $2.00–$2.10 demand zone within the next 24–48 hours.

A bullish rebound may follow, but it hinges on Bitcoin surpassing $94.80K local resistance.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion