The crypto market cap holds steady at $2.88T after a bullish structure shift, signaling a potential higher low formation ahead. Despite a recent 0.88% dip, the total crypto market cap stays above key fib levels, showing strength after April’s recovery. Sentiment remains bearish, but price structure and volume suggest the market is building a solid base between $2.7T and $3.0T. The total cryptocurrency market cap is showing signs of renewed strength after a major structural shift on the daily timeframe. The market currently sits at $2.88 trillion, down slightly by 0.88% on the day. However, despite the dip, recent price action has turned bullish. A clean break in structure has emerged following April’s recovery. Traders now eye a higher low as the next key development. A purple support zone just below current levels looks promising. If that fails, deeper Fibonacci levels may provide support. Structural Recovery Follows Steep Correction Since November 2024, the crypto market has moved through a well-defined cycle. The trend started near $2.1 trillion and quickly rallied. December brought explosive growth, pushing the market cap above $3.6 trillion, a 71% rise. Mid-December marked the first peak, followed by a minor consolidation. Source: CRG Momentum returned in January 2025, briefly lifting the market near $3.6 trillion again. However, February reversed the trend. A steep March correction dragged the market down 25%, dropping the cap from $3.1 trillion to $2.3 trillion. April marked a turning point. The market formed a rounded bottom near the $2.3 trillion level. Fibonacci retracement zones appeared, showing possible recovery targets. Price eventually rallied near $3 trillion before pulling back slightly. Bulls Watch for Base Before Breakout Current consolidation between $2.7 trillion and $3.0 trillion suggests a new base may be forming. This aligns with broader bullish sentiment despite recent bearish headlines. CRG from MacroCRG notes that sentiment remains near record lows. However, price structure tells a different story. The market now trades above key Fibonacci levels, with volume evenly split between buyers and sellers. This balance hints at an accumulation phase rather than distribution. The purple zone beneath current prices could form the ideal higher low. Moreover, technical traders view dips as opportunities rather than signals of collapse. With a bullish structure in place, a strong move higher seems increasingly likely. Price may need more time to build momentum, but the foundation appears solid.

  • Raydium (RAY) bounced from $2.57 support, with strong bullish momentum targeting the $4.95 level, driven by a breakout on the 4-hour chart.

  • A surge in volume and upward sloping moving averages confirm the strength of RAY's uptrend, showing solid market conviction for further gains.

  • The RSI’s overbought level signals short-term consolidation but confirms strong upward momentum, with RAY aiming for higher price targets.

Raydium (RAY) is surging in the crypto space, staging a sharp climb with increased trading action on the Solana blockchain and favorable technicals. It hit $3.46 as of writing, up 44.85% over the last seven days and 4.51% in the last 24 hours.

Strong Technical Structure Backing RAY’s Uptrend

A recent tweet from Decilizer highlighted RAY’s recent bounce from the $1.49 support zone, now turned into a solid base after acting as previous resistance. This bullish flip was confirmed by a decisive breakout candle on the 4-hour chart, pushing the price near $1.95, an 8% increase in a single session.

Momentum indicators show sustained strength. The 50-period moving average is now trending upward, offering dynamic support. Trading volume surged during the breakout, suggesting strong market participation. The RSI reached the overbought level of 70, hinting at short-term cooling but indicating strong upward momentum.

The $2.57 resistance zone is seen as the next hurdle. If broken, the price may target $4.95, supported by broader bullish sentiment in the market, particularly Bitcoin’s movement. Monitoring RSI and volume trends remains crucial to evaluate breakout sustainability.

RAY Dominates Solana’s DEX Volume Amid Memecoin Frenzy

Blockchain Bulletin noted that RAY jumped 19% in 24 hours, gaining 56% over the week. Raydium has become the leading decentralized exchange on Solana, currently handling over 60% of the network’s DEX volume.

https://twitter.com/thebbcrypto/status/1922606597047509002

The surge is partly driven by a trading boom in memecoins, with Raydium seeing up to $16 billion in daily volume. Its integration with Serum and efficient user interface contribute to its high on-chain engagement, reinforcing its position within the Solana DeFi landscape.

This trading activity further supports the recent price movement, showing real demand behind the token’s rally. Market participants are closely watching Raydium as DeFi activity accelerates.

RAY’s Short-Term Outlook Hinges on Key Levels

Sustaining prices above the $1.95–$2.00 level could validate further upside, provided volume remains strong and RSI avoids bearish divergence. The market is also watching Bitcoin, as its strength often influences altcoin trends.

For now, RAY’s short-term momentum remains intact, but traders are monitoring whether it can break past $2.57 and sustain gains toward $4.95.

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