🚀
$RAY just surged 14% in a day… but the REAL opportunity might be hiding in the traders betting against it! 📉 👀
Remember when
#Raydium was trading near $0.90? RAY climbed to $2.56 on October 7, gaining roughly 184% from its September breakout. Now it's around $2.31.
But here's where things get spicy. 🔥
While RAY was pumping, traders kept opening short positions, expecting the rally to collapse. Open interest surged above $20M, while funding plunged close to -0.20%.
Translation? Many traders were betting against the move.
Then open interest dropped to $16.3M, but funding remained negative at -0.08%. Some positions may have been shaken out, yet bearish positioning hasn't completely disappeared.
And there's a bigger reason behind this rally…
Raydium processed around $6.1B of Solana's $12.4B tokenized-stock DEX volume this year. September's tokenized equity volume also jumped to roughly $260M, up from less than $40M in August.
That's REAL trading activity backing the hype. 👀
My take: RAY has momentum, but after such a massive run, profit-taking could trigger a sharp pullback. Holding above $2.30 could help sustain the recovery, while losing that area may invite deeper downside. A fresh breakout needs strong volume to confirm continuation.
⚠️ The biggest danger? Chasing the pump after the easy gains are already gone.
If short pressure builds again, could RAY squeeze toward new highs… or is this rally about to exhaust itself?