Raydium is currently trading within a well-defined ascending channel, respecting both support and resistance since early 2024. After a healthy pullback to the lower trendline, price has shown a bounce, suggesting renewed buying interest at this key level.
🔍 Pattern Observations:
📊 Bullish Scenario:
If RAY continues to respect this channel and breaks above the upper resistance:
🎯 Targets (Post-Breakout):
💡 Conclusion:
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🔍 Pattern Observations:
- Price is holding the channel support strongly, confirming it for the third time.
- Mid-channel rejections have acted as temporary resistances, while the overall structure remains intact.
- The recent test of the lower trendline presents a strong risk-reward entry zone for long-term bulls.
📊 Bullish Scenario:
If RAY continues to respect this channel and breaks above the upper resistance:
- Breakout Target Projection (measured move from channel height):
- Current price breakout estimate: ~$2.43
- Height of channel: ~$4.50
- ➤ Projected Target = $2.43 + $4.50 = ~$6.90 to $7.00
- Extended Projection (conservative fib extension aligns with your markup):
- Potential blow-off target: ~$25 to $30
🎯 Targets (Post-Breakout):
- Initial: $6.90 ~184%
- Mid-Term: $15.00 ~517%
- Long-Term: $30.00 ~1135%
💡 Conclusion:
RAY is setting up for a potentially explosive breakout. If the structure holds, current levels may offer a high-probability long entry with favorable upside. Keep an eye on volume confirmation and daily closes above the mid-channel to gauge momentum.
#RAYUSDT #CryptoAnalysis #Raydium #BullishPattern #BreakoutSetup #Altcoins #TradingView
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.