Raydium's native token, RAY, has seen a significant surge of 665.45% in 2024 and has become one of the top-performing cryptocurrencies of the year. The platform has overtaken Uniswap in monthly DEX volumes, with a $23 billion spike in just one week. Raydium holds nearly 50% market share of all DEX volumes on Solana, generating $226 million in fees over the past 30 days. Raydium has experienced strong buying momentum, as reflected by the rapid increase in its Relative Strength Index (RSI). However, there has been a bullish reversal indicated by the Exponential Moving Average (EMA) lines crossing back above each other. If this bullish momentum continues, RAY's price could test resistance levels at $5.9 and $6.25, with a potential 14% upside. Conversely, if momentum fades, RAY may retest support levels at $5.19 and potentially drop further to $4.67.



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