Raydium Price Prediction: As RAY Drops 4%, This New Solana Meme Coin Presale Charges Toward $10 Million

The
Raydium
price
dropped
4%
in
the
last
24
hours
to
trade
at
$4.96
as
of
11:14
p.m.
EST
on
trading
volume
that
surged
10%
to
$129
million.

Raydium
Price
Indicators
Suggest
A
Sustained
Bearish
Trend

The


RAY
price,
as
shown
on
the
4-hour
chart,
has
been
trading
in
a
choppy,
sideways
range
for
the
past
few
months.

Recently,
the
price
attempted
a
rally
toward
the
$6.0
mark
but
was
rejected,
forming
a
rounded
top
pattern,
which
is
a
bearish
reversal
signal. 

After
failing
to
sustain
the
upward
momentum,
the
price
broke
below
the
50-day
Simple
Moving
Average
(SMA)
and
now
hovers
near
$4.96,
according
to


GeckoTerminal

data.

Initially,
the
Raydium
price
held
above
both
SMAs,
but
it
has
since
fallen
below
the
50-day
SMA
and
is
approaching
the
200-day
SMA. 

The
“Death
Cross”
around
$4.9,
seen
earlier,
where
the
short-term
moving
average
(50-day)
crossed
below
the
long-term
moving
average
(200-day),
reinforced
bearish
sentiment.

The
Relative
Strength
Index
(RSI)
is
at
38.92,
which
indicates
weak
momentum
and
places
the
asset
near
the
oversold
region
(below
30). 

While
the
RSI
suggests
that
sellers
are
in
control,
there
is
potential
for
a
short-term
bounce
if
the
RSI
trends
upward
from
these
levels.

Can
RAY
Recover
From
The
Bearish
Trend?

Given
the
current
technical
setup,
RAY
appears
to
be
in
a
bearish
consolidation
phase.
There
is
a
risk
of
further
downside
unless
bulls
reclaim
the
50-day
and
200-day
SMAs. 

If
the
Raydium
price
decisively
breaks
below
the
$4.90
level,
the
next
major
support
could
be
at
$4.50,
with
a
further
downside
target
around
$4.00.

Conversely,
a
break
above
$5.40
(the
50-day
SMA)
could
lead
to
a
short-term
recovery.
$5.80
and
$6.00
are
key
resistance
levels
and
the
main
targets
from
this
level.

As
RAY
plunges,
investors
continue
buying
a
new
Solana
meme
coin
called


Solaxy
(SOLX).
According
to
99Bitcoins,
a
popular
crypto
YouTube
channel
with
over
721K
subscribers,
SOLX
has
the
potential
to
soar
100X
post-launch.

Solaxy
Presale
Surges
Towards
$10
Million

Solaxy
is
an
emerging
cryptocurrency
project
that
has
successfully
raised
$9.5
million
during
its
presale.

The
project
is
centered
on
advancing
Layer
2
technology
to
improve
the
Solana
blockchain
by
addressing
transaction
holdups
through
the
implementation
of
roll-up
technology.

Solaxy
aims
to
deliver
faster,
smoother,
and
more
cost-effective
transactions,
appealing
to
users
across
the
Ethereum
and
Solana
ecosystems. 

The
project
has
captured
attention
due
to
its
strong
visual
branding
and
market
appeal,
and
many
recognize
its
potential
to
mitigate
congestion
and
failed
transactions
on
Solana.

????
Solaxy
is
now
live
in
Upcoming
Tokens!
????@SOLAXYTOKEN
gives
holders
an
opportunity
to
join
the
first-ever
Solana
Layer
2
blockchain.

Solaxy
is
set
to
enhance
blockchain
innovation
through
limiting
congestion,
reducing
failed
transactions,
and
improving
scalability
on
SOL.…

pic.twitter.com/satNF6zFNF

—
Best
Wallet
(@BestWalletHQ)

December
17,
2024

Solaxy’s
solution
relies
on
three
key
features:
off-chain
processing
to
handle
the
heavy
work,
transaction
bundling
to
cut
costs,
and
secure
settlement
back
on
the
main
Solana
chain.

Solaxy
also
offers
holders
who
stake
their
SOLX
tokens
a
huge
annual
yield
of
368%.
Over
3.1
billion
SOLX
have
been
staked
so
far.

Investors
interested
in
participating
in
the
presale
can
visit
the
official
Solaxy
website
to
buy
SOLX
tokens
for
$0.001596
each
using
BNB,
ETH,
USDT,
or
a
bank
card.

Buy
before
a
price
hike
in
slightly
more
than
a
day
to
secure
the
best
deal.

Visit
SOLX’s
website
here.

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