- Raydium saw steady demand throughout its range-bound price action.
- The short-term bullish target was the $8-$8.2 liquidity pocket.
Raydium [RAY] saw 62% gains over the past eight days. The rise of Official Trump [TRUMP] on the Solana [SOL] chain has also likely boosted demand for RAY, but its rally began before the launch of the TRUMP meme coin.
Since November, it had traded within a range that extended from $4.02 to $6.3. This range was broken on the 18th of January, and its highs were retested as a support zone.
Raydium breaks range formation, set to sail higher
Source: RAY/USDT on TradingView
The strong demand for Raydium was reflected on the price charts. Over the past two months, despite the range formation, the OBV continued to trend higher. This was a sign of steady buying pressure.
Additionally, the breakout beyond the range highs occurred on high trading volume, indicating conviction. The Fibonacci retracement and extension levels were plotted based on the October and November rally from $1.57 to $6.5.
It showed that the next targets for RAY bulls were $7.66 and $9.54. The daily RSI was above 60, showing strong bullish momentum.
Combined with the steady buying pressure, Raydium was likely to move toward $9.54 in the coming days and weeks.
Source: Coinglass
The 3-month liquidation heatmap highlighted a pocket of liquidity at $8 and another at $7.12. Below this, the $7 was another magnetic zone.
Since the recent move has already retested the range highs at $6.3, another immediate dip to $7.12 was unlikely.
Instead, a move toward $8 and then a reversal and a sweep of the $7-$7.1 region appeared more likely.
Source: Coinglass
The 1-week liquidation heatmap also highlighted the $8 liquidity pocket. It made it clear that the $7.93-$8.21 had a noticeable density of liquidation levels that could draw RAY prices toward it.
Read Raydium’s [RAY] Price Prediction 2025-26
To the south, the $7.12 and $6.96 levels were less bright, since they had fewer liquidation levels.
A move to $8 and a few days of consolidation could build up long liquidation levels to the south, which Raydium prices can later take out before continuing the upward move.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
