Raydium (RAY) is experiencing a notable price rebound, drawing attention from both traders and long-term investors across the crypto space.
After a strong rally from $2.40 to $3.86, the token entered a consolidation phase and is now trading around $3.25, suggesting potential for further gains.
This upward movement has been largely driven by Raydium’s ongoing token buyback program, which has acted as a key catalyst in strengthening bullish momentum in the market.
RAY token buyback program
Since mid-March, Raydium has maintained steady buybacks, allocating 12% of trading fees to purchase RAY on the open market.
Although buyback intensity has eased somewhat at times, the consistent presence of repurchases and periodic spikes have provided a solid demand base for the token.
Raydium price analysis
The technical setup has turned convincingly bullish: RAY has recorded a consistent series of higher highs and higher lows, indicating a strong uptrend.
At the same time, the price remains above both the 20-day exponential moving average (EMA) and the 50-day simple moving average (SMA), reinforcing bullish sentiment among traders.
These indicators have maintained a bullish crossover since mid-April, and the trend shows no clear signs of weakening so far.
Immediate resistance sits at $3.50; a successful breakout above that level could trigger a swift move toward the next major resistance near $4.20.
That $4.20 zone previously acted as critical support before the February sell-off and now represents the next upside target.
If Raydium reaches $4.20, it would represent nearly 30% upside from the current trading level, likely attracting additional investor attention.
The Relative Strength Index (RSI) is approaching 57, indicating the token is neither overbought nor oversold and leaving room for further gains.
Beyond $4.20, the next significant resistance is around $5.70, where RAY faced repeated rejections before and after the January peak.
Despite the bullish setup, a drop below key support at $2.20 would invalidate the bullish thesis and open the door to a potential decline toward $1.50.
Nevertheless, the trend remains structurally intact, with momentum indicators supporting continued upside in the near term.
The platform also reports a total value locked (TVL) exceeding $2.07 billion, highlighting its prominent role within Solana-based DeFi.
Over the past 24 hours alone, trading volume surpassed $79.5 million, reflecting rising interest in the token during this consolidation phase.
Historically, Raydium reached an all-time high of $16.83 in September 2021, while its lowest point occurred in December 2022 at $0.1344.
Since then, the cryptocurrency has shown a meaningful recovery, supported by both renewed market participation and internal initiatives such as the buyback program.