Raydium (RAY) Price Could Explode 2x Soon : Analyst Reveals the Critical Trigger

Raydium is back on traders' radar after shaping a bullish pattern following a steep drop earlier this year.

The price of Raydium (RAY) has been a hot topic among traders recently, especially after it formed a bullish pattern following a steep drop earlier this year. Over the past day, the token has climbed 5.13% and is currently trading at $1.86.

This move comes as trading volume soared more than 80%, indicating that interest in RAY is heating up again.

Onchain analyst CW shared on X that the token seems to be setting up for a breakout, but there’s one key resistance level standing in the way. If it breaks, RAY price could be looking at a potential 2x move.

Earlier this year, Raydium (RAY) had a strong rally that peaked in February before slipping into a downtrend. During that drop, the price action formed a falling wedge pattern—a setup that traders often watch for bullish reversals.

However, CW has pointed out that the price of RAY has already broken out of the wedge, and even after a slight pullback, it’s still holding higher than its previous low, which is usually a good sign for trend continuation.

Looking at the chart, the falling wedge is easy to spot. It shows that sellers gradually lost steam, and once RAY price broke above the upper trendline, it started consolidating just above the $1.80-$2.00 range. The volume also picked up during that breakout, hinting at possible accumulation by buyers getting in early.

According to the chart, RAY is facing immediate resistance between $3.00 and $3.50, with $4.00 identified as the next key level. If this zone breaks, then the door could open for a broader rally. Historical data shows that once the price clears these barriers, it may attempt to test zones between $6.50 and $9.00.

CW also highlighted that the asset is holding a higher price level than its previous low. This higher low structure usually serves as confirmation of a trend reversal, making the $4 mark a potential trigger point for upward movement. A move above this level could mark the continuation of bullish momentum.

The green zone, around $1.80-$2.00, has been tested multiple times, and the price has remained above it, reflecting buying interest. During the previous correction, the asset dropped significantly from February highs but failed to make a lower low after the falling wedge breakout. This development supports the ongoing bullish case from a technical perspective.

Price action has remained stable within a narrow range, and higher trading volume shows that market participants are watching this level closely. If the support remains intact, it could act as a launch point in the event of a bullish breakout.

The next move for RAY will likely depend on how it reacts near the $4 resistance area. If the price manages to close above this range on strong volume, the setup may play out in favor of bulls targeting higher zones.

However, failure to clear this level could trigger another consolidation phase or test of lower supports. Traders are closely following the price action and trading volume for signs of the preferred direction.

As the price of Raydium (RAY) continues to hover around key support levels, traders are keeping a close eye on any technical developments that could influence the token's near-term trends.

After forming a falling wedge pattern during a steeper drop earlier this year, Raydium (RAY) is now attempting to stabilize and continue its move higher. The token has risen by 5.13% over the past day, reaching a current price of $1.86.

This move comes as trading volume soars by more than 80%, indicating that interest in RAY is heating up again.

Onchain analyst CW shared on X that the token seems to be setting up for a breakout, but there’s one key resistance level standing in the way. If it breaks, RAY price could be looking at a potential 2x move.

Earlier this year, Raydium (RAY) enjoyed a strong rally that peaked in February before slipping into a downtrend. During that drop, the price action formed a falling wedge pattern—a setup that traders often watch for bullish reversals.

However, CW has pointed out that the price of RAY has already broken out of the wedge, and even after a slight pullback, it’s still holding higher than its previous low, which is usually a good sign for trend continuation.

Looking at the chart, the falling wedge is easily spotted. It shows that sellers gradually lost steam, and once RAY price broke above the upper trendline, it started consolidating just above the $1.80-$2.00 range. The volume also picked up during that breakout, hinting at possible accumulation by buyers getting in early.