Raydium price eyes 30% surge as RAY buybacks fuel bullish momentum
RAY price is poised for a 30% surge to $4.20, buoyed by Raydium’s ongoing token buybacks.
Raydium ($RAY ) has surged 10% in the past 24 hours, currently trading around $3.30 as it consolidates following its recent 60% rally from $2.40 to $3.86. The price structure is decisively bullish, with RAY price having printed five consecutive higher highs and higher lows. It also continues to trade above both 20 EMA and 50 SMA, which have maintained a bullish crossover since mid-April.
This uptrend appears to be driven by Raydium’s ongoing token buyback program, which allocates 12% of trading fees toward repurchasing RAY tokens. While buybacks have slowed since mid-March, they have been more or less steady since then with occasional spikes.
