The crypto market is in turmoil, and Raydium (RAY), Solana's main decentralized platform, stands out with an impressive performance and an increase of 56% over the past 5 days. Discover the prospects of this token which could explode.
Raydium explodes by 56% in 5 days
Since the announcement of the crypto reserve including Solana (SOL) and the official launch of Donald Trump's memecoin last night, the entire ecosystem has been in turmoil. Indeed, the SOL token no longer stops rising and has even exceeded the 240 dollars This morning.
As a result, Solana’s largest tokens and memecoins are showing bullish signals. And Raydium (RAY)one of Solana's largest DEXs, increased by 56% since its lowest on January 14 at $4.10.
Currently at 6,86 dollarsit increased by 13% in the last 24 hours. According to data from Defillama, the Total Value Locked (TVL) on Raydium has reached a new all-time high of $2.589 billion.
Significant upside potential for Raydium (RAY)
According to the FBB (Fibonacci Bollinger Band), the RAY must stay above $6.7 to maintain its bullish phase. Otherwise, he could fetch the $6.35 or the $6.11 before being able to leave.
In addition, the Chaikin Money Flow clearly indicates a significant bullish wave in preparation for the DeFi token, with a growing interest from investors. Technical indicators, like the MACD (Moving Average Convergence Divergence), also signal strong positive momentum.
In conclusion, the favorable context of the cryptocurrency market, with the rebound of Bitcoin and speculation on President Trump's decisions, the environment is favorable for Solana altcoins like RAY. Currently, the RAY seems inevitable and could continue its rise until 10 dollars.
-Investors are looking for the best Solana altcoins. Besides Ray, DeFi tokens like Jupiter JUP can also stand out. DeFi has always been Solana’s greatest strength. The JUP started showing bullish signals and increased by 12% over the last 30 minutes, at 11 a.m.
On the other hand, RAY shows signals of force relative impressive and places the token as one of the best altcoins to stake on the Solana blockchain.
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