Raydium has been trending upwards this month, and traders are starting to sit up and take notice. After a clear trend reversal early in July, price is now testing a strong area of resistance at about $3.60.

With momentum still in play, many are watching to see if RAY price can keep pushing up, or if a pullback is around the corner.

RAY is currently trading at around $3.39 on Binance, up a little over 3% on the day. Looking at the 4-hour chart, this move hasn’t come out of nowhere, the setup has been building since early July.

RAY Trend Shift Confirmed With 200-SMA Break

In June, RAY price was in decline, trading considerably below its 200-period Simple Moving Average (SMA). This turned around July 7, when price cleanly broke above the 200-SMA, a level that most typically signifies a trend change. 

Since then, RAY price has been forming higher highs and higher lows, which is exactly what a bullish structure looks like.

Source: TradingView.com

The same 200-SMA, currently at about $2.39, has become support. Provided that price stays above it, the bullish bias remains intact.

Raydium Trendline Keeps the Rally on Track

There’s also a rising trendline that’s been guiding the move since the breakout. It’s held multiple times, also on July 19 when RAY bounced cleanly and headed toward $3.60.

So far, bulls are in control, RAY price hasn’t closed below that trendline once. If it continues to hold, the path higher stays open.

What to Watch Next

On the downside, $2.90–$3.00 is a minor support zone if things pull back. The trendline itself offers nearby support, and the 200-SMA would be a deeper level to keep in mind.

On the upside, $3.60 is the big level to beat. A clean breakout above it could send RAY price toward $3.90 or even $4.00 in the short term. If volume kicks in, that move could come quickly.

For now, RAY trend looks healthy, but traders should be watching the $3.60 level closely to see if momentum sticks around.

Read Also: Why Raydium Might Be the Best Solana Trade of the Year

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The post Raydium (RAY) Price Outlook, Key Levels to Watch appeared first on CaptainAltcoin.