In the last 24 hours, the price of Raydium (RAY) surged by 17%, reaching $5.65, making RAY the top performer in the crypto market according to CoinMarketCap.
Raydium Chart Analysis
The Raydium price is exhibiting a bullish Elliott Wave structure, currently in the fifth wave of an impulse cycle. As per GeckoTerminal data, Wave 4's correction aligns with Fibonacci retracement principles, with the price finding support at a previous accumulation zone before rebounding. Raydium's price is slightly below the 50-day Simple Moving Average, indicating that a break above it could signal further bullish momentum. The Relative Strength Index (RSI) is at 47.54, indicating a neutral zone.
RAY Price Prediction
Given the current market structure, RAY appears poised for further growth in its fifth wave, with potential targets ranging from $7.00 to $9.00-$10.00 if the trend holds. If RAY does not break above the $5.84 resistance, another retest of the $4.50 support zone may occur.
Best Wallet Progress in Presale
Best Wallet, an innovative Web3 wallet supporting over 60 blockchains, continues its presale, attracting traders with features such as a built-in DEX and crypto debit card. The presale has reached $9.5 million, with potential competition against Trust Wallet and MetaMask, thanks to unique features like its high-potential projects presale aggregator.
The 17% rise in RAY suggests hopes for a continued positive trend. The interest in Best Wallet during the presale highlights the market's focus on new tech solutions in crypto wallets.
