Raydium (RAY) rallied amid a broader crypto market uptick, with the token gaining 15.19% in 24 hours and its trading volume surging 125.5%. The move followed Injective’s expansion onto the Solana blockchain, which strengthened Raydium’s fundamentals by introducing a new source of trading activity. Raydium served as a day-one liquidity partner for the rollout, granting Injective assets immediate access to Solana liquidity. The decentralized exchange now accounts for over 90% of memecoin DEX trading volume on Solana, and its cumulative tokenized stock volume recently surpassed $5 billion on the blockchain. However, futures data revealed persistent taker-sell dominance, suggesting aggressive selling after the sharp price appreciation.
Raydium rallied on the price charts as the broader cryptocurrency market saw green across the board. The timing followed Injective’s Solana expansion, which strengthened RAY’s fundamentals by introducing another potential source of trading activity for Raydium’s decentralized exchange.
Raydium joined the rollout as a day-one liquidity partner, granting Injective assets immediate access to Solana blockchain liquidity. The integration also enables participants to trade Injective ecosystem tokens through Raydium, eventually funneling additional swaps and liquidity.
It is important to note that Raydium accounts for over 90% of memecoin DEX trading volume on Solana. Its cumulative tokenized stock volume recently surpassed $5 billion on the blockchain.
The altcoin’s price gained by 15.19% over 24 hours, while trading volume simultaneously surged by 125.5%, hinting at greater market participation. Retail Futures activity also pushed trading frequency into the “Too Many Retail” area, implying smaller traders increasingly entered futures trading as RAY’s price pushed higher.
The 90-day Futures Taker CVD maintained taker-sell dominance across the derivatives market. Therefore, aggressive sellers likely started taking in profits after RAY’s sharp price appreciation.
On the 24-hour chart, RAY’s price rally extended by roughly 26.16%, briefly hitting the $1.85 swing high before a retracement. The price then slipped below the $1.80-resistance level, trading at around $1.77 at press time.
The MACD indicator remained supportive after crossing above its Signal line, with a positive histogram reading of 0.0341 suggesting bullish pressure had not fully faded. The RSI indicator, however, breached 72.27, placing the token in overbought conditions.
Reclaiming the $1.80-resistance would be crucial for an upside continuation. A sustained rejection could instead reinforce the pullback as price gravitates towards denser lower liquidity.
With reference to the technical price structure, RAY’s latest rally may have already collected much of the nearby upper liquidation liquidity. The strongest visible clusters can be seen around the $1.64–$1.66 region, while taker-sell dominance and overbought RSI conditions increased the significance of a rejection around the $1.80-area.
Persistent rejection around that key level could therefore push RAY towards the $1.64–$1.66 liquidity pool before another sustained recovery attempt. However, such a correction would not invalidate the broader structure while $1.2202 remains protected.
