The post Raydium Hits $5 Resistance as Price Surges: Can Bulls Hold Against Bears? appeared on BitcoinEthereumNews.com.

Raydium is testing resistance at $4.20-$5.00, crucial for future price direction. A breakout above $5 could lead to significant gains, while rejection may trigger a correction. As Raydium cryptocurrency continues its upward trajectory, a crucial price point that could determine the next direction for its market movement is on sight. As per the latest update, the digital asset’s price action is at a pivotal level, as it tests a significant resistance zone between the $4.20 to $5.00 range. At the same time, a price surge of 20% was recorded in the last 24 hours validating its ability to reach those levels. According to an observation prepared by Nology, a significant rise from the lows of 2023 was noted by Raydium, reaching key resistance levels. The most recent price action shows a potential reversal, with a possible correction forming in May 2025. The trend appears to be forming an Elliott Wave structure, with waves labeled from 1 to 5. Support levels are drawn around $2.30, while resistance is seen near $10. If the current trend continues, RAY could test higher levels, but the chart also shows a possible decline to lower support in the near future. This trend brings two scenarios in play, the bullish one and the bearish one. Bullish Scenario: A Shallow Wave 2 Correction In the bullish scenario the bullish price action may be interpreted in the light of a shallow wave 2. In this case, Raydium would be resuming its bullish tendency after a minor retracement. If the price breaches the $5 level, the potential upside becomes massive. Such an attempt to overcome the resistance might open the way to a bright move up to $17, and even higher, breaking the $20 bar. This would be a clear bullish development as the market mood will be likely…

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Filed under: News - @ May 14, 2025 3:28 pm