The post Raydium: Here’s why disciplined longs still back RAY’s run! appeared on BitcoinEthereumNews.com.

TD Sequential sell signal appears as Raydium tests the $2.30 resistance level. Long liquidation clusters form below $2.16, raising the risk of a deeper correction. Raydium [RAY] has recorded an impressive recovery since its consolidation phase in March, climbing over 60% as bullish momentum returned to the altcoin market. In fact, a TD Sequential sell signal has now surfaced on the daily chart—often a red flag that suggests trend exhaustion may be near. The token is approaching a critical resistance zone near $2.30, where prior rejections have occurred. With market participants eyeing this region closely, the next few sessions could determine whether this rally will extend further or stall into a corrective phase. A cautiously bullish outlook While price action continues to push upward, the Funding Rate tells a more grounded story. The OI-Weighted Funding Rate sat at 0.0054% at press time, reflecting a slightly bullish sentiment without veering into overconfidence. This neutral-to-positive rate suggests that while traders are positioned long, they are doing so with limited leverage. In fact, the lack of reckless leverage speaks to a more disciplined risk appetite. This maturity in positioning reduces the odds of a wipeout and often lends staying power to trends. Source: CoinGlass RAY liquidation map reveals… Derivatives heatmaps add an important layer to this outlook. A dense cluster of long liquidations sits between $2.04 and $2.16, meaning a drop into this zone could trigger a rapid wave of forced selling. On the other hand, short liquidations above $2.32 are comparatively thin, implying less friction if the price breaks higher.  The liquidation map paints a picture of asymmetric risk: downside wicks could accelerate, while upside movement might be smoother. Maintaining support above $2.16 becomes crucial for sustaining this bullish setup. Source: Coinglass A healthy but cautious buildup Market activity shows that traders…

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Filed under: News - @ April 19, 2025 9:06 pm