The native token of Solana-based AMM and liquidity provider Raydium, RAY, has been the top gainer in the market despite the broader market pullback. With increased trading activity, RAY is currently trading at its highest price since 2021 and shows potential for further gains. Analysis of the RAY/USD one-day chart indicates a surge in demand for altcoins, supported by the setup of the Ichimoku Cloud. The positive Chaikin Money Flow also suggests buying pressure dominates the spot markets, indicating a continued uptrend for RAY. If the current uptrend persists, RAY could attempt to breach resistance levels at $8.96 and potentially reach its all-time high of $17.80. However, if there is a spike in selloffs, the price could drop below the support zones of the Ichimoku Cloud to trade at $4.30.



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