Raydium (RAY) Price Shows Notable Resurgence, Gaining Attention from Both Traders and Long-Term Investors

Raydium (RAY) is currently experiencing a notable resurgence in price, gaining the attention of both traders and long-term investors across the crypto landscape.

Raydium (RAY) has been a hot topic among traders and crypto investors. The token has seen a strong rally.

After a stellar run from $2.40 to $3.86, seesawing in a new stage of consolidation around $3.25, signals the potential for another leg up.

This upward movement is being driven mainly by Raydium’s ongoing token buyback program, which has become a major catalyst in reinforcing bullish momentum.

What is the RAY token buyback program?

Since mid-March, Raydium has been steadily buying back its own tokens, allocating 12% of trading fees toward purchasing RAY from the open market.

Although the intensity of the buybacks has varied, with some periods of more active collection and others with lower volume, their continued presence and periodic spikes have provided a constant source of demand for the token.

This initiative is a key factor underpinning the bullish technical setup, which has become decisively positive.

As the chart shows, RAY has printed a series of five higher highs and higher lows, a technical pattern that signals a strong uptrend.

At the same time, the price has remained above both the 20-day exponential moving average (EMA) and the 50-day simple moving average (SMA), a technical factor that reinforces the bullish sentiment among traders.

These two indicators also completed a bullish crossover in mid-April, and this trend has yet to show signs of weakening.

This technical setup is setting the stage for another leg up in the coming days.

Local resistance is anticipated at $3.50, and a breakout above this level could trigger a swift move toward the next key resistance at $4.20.

That target level previously acted as a critical support zone before the February sell-off and now stands as the next bullish milestone.

Should Raydium manage to reach $4.20, it would represent an almost 30% gain from its current trading level, which is likely to attract even more attention to the asset.

The Relative Strength Index (RSI) is currently at 57, which indicates that the token is neither overbought nor oversold, and suggests there is still room for further gains.

Beyond $4.20, the next notable resistance level is around $5.70, where the token faced multiple rejections before and after the rally that peaked in January.

However, a decline below the key support level of $2.20 would invalidate the upward thesis and open the door to potential downside toward $1.50.

But the trend remains structurally strong, with momentum indicators supporting continued upside in the near term.

The platform also has a total value locked (TVL) of over $2.07 billion, highlighting its prominent role in the Solana-based DeFi ecosystem.

In the last 24 hours alone, the trading volume has exceeded $79.5 million, which reflects heightened interest in the token during this consolidation phase.

Historically, Raydium reached an all-time high of $16.83 in September 2021, while its lowest point came in December 2022 at $0.1344.

Since then, the cryptocurrency has shown a remarkable recovery, driven by both market participation and internal initiatives like the token buyback program.