Solana

Serum

Raydium

Resistance

Coin

<ul class="list-ic vertical">
 <li><span>1</span> <a>Raydium has developed a fundraising platform called AcceleRaytor.</a></li>
 <li><span>2</span> <a>The serum decentralized exchange, which Raydium supports, uses smart contracts.</a></li>
 <li><span>3</span> <a>Raydium (RAY) experienced a significant drop of 8.7% on Friday.</a></li>
</ul>
<p>Raydium is an automated market maker (AMM) that operates on the Solana blockchain and shares liquidity with the Serum decentralized exchange.&nbsp;</p>
<p>As an AMM, Raydium allows the trading of digital assets such as cryptocurrencies in a permissionless manner. This is facilitated through the use of liquidity pools.&nbsp;</p>
<p>Liquidity pools have emerged as one of the main tools of decentralized finance (DeFi). They rely on individuals referred to as liquidity providers who lock their assets in a liquidity pool smart contract. These locked assets can then be utilized as trading pairs within a given market for traders on the decentralized exchange.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-how-does-the-raydium-amm-work-strong"><strong>How Does the Raydium AMM Work?</strong></h2>
<p>In contrast to traditional asset exchanges, such as stock markets, which maintain a centralized record of all buy and sell orders, called an order book. AMMs don’t have an order book. Instead, buy and sell orders are executed against a pool of assets supplied by liquidity providers.&nbsp;</p>
<p>In addition to its exchange and yield-earning platforms, Raydium has also developed a fundraising platform called AcceleRaytor. This platform serves as a launchpad to help new projects raise capital and build within the Solana ecosystem.&nbsp;</p>
<p>The Serum decentralized exchange, which Raydium supports, uses smart contracts to facilitate the buy and sell order matching process. Through AMMs like Raydium, users can buy and sell assets against a pool of assets supplied by liquidity providers.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-ray-coin-price-strong"><strong>Technical Analysis and Prediction of RAY Coin Price&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1600" height="763" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212.png" alt="RAY Coin: Raging 52-Week High for the RAY Bulls, What’s Next?" class="wp-image-183512" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212-1024x488.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212-768x366.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212-1536x732.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-212-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   RAY/USDT chart by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=BINANCE%3ARAYUSDT" rel="noopener noreferrer nofollow">TradingView</a> (Daily time frame)
  </figcaption>
 </figure>
</div>
<p>On Friday, Raydium (RAY) experienced a significant drop of 8.7% due to Bitcoin’s decline below $36,000. This led to short-term traders rushing to take away profits. Additionally, most other altcoins saw a loss of more than 5% on that day, with Bitcoin’s dominance rising by 0.85%.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1583" height="440" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211.png" alt="RAY Coin: Raging 52-Week High for the RAY Bulls, What’s Next?" class="wp-image-183511" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211.png 1583w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211-300x83.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211-1024x285.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211-768x213.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211-1536x427.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211-750x208.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-211-1140x317.png 1140w" sizes="(max-width: 1583px) 100vw, 1583px">
 </figure>
</div>
<p>However, <a href="https://www.thecoinrepublic.com/2023/12/07/filecoin-price-prediction-are-bulls-closing-in-on-the-5-mark/" target="_blank" rel="noopener noreferrer nofollow">Raydium’s price</a> is still up 117% from its October lows. The total locked value on the Dex is yet to show a similar uptrend. The bullish price action seems to be driven primarily by the monumental rally in Solana’s price. This has surged almost 9x since hitting its 52-week lows.</p>
<h3 class="wp-block-heading" id="strong-support-and-resistance-levels-of-ray-strong"><strong>Support and Resistance Levels of RAY</strong></h3>
<p>The current resistance level for the RAY coin price is at $0.569 while the 2nd resistance level is at $0.693. Similarly, the immediate support level is at $0.421 while the 2nd support level is at $353. The 50-day EMA and the 150-day EMA have made a bullish crossover between them. This was the result of the uptrend and is giving a boost to the bulls.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Raydium allows for the trading of digital assets, such as cryptocurrencies, in a permissionless manner. AMMs don’t have an order book. Instead, buy and sell orders are executed against a pool of assets supplied by liquidity providers. The 50-day EMA and the 150-day EMA have made a bullish crossover which supports the current uptrend.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $0.421 and $0.353</li>
 <li><strong>Resistance Levels: </strong>$0.569 and $0.693</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.</p>

RAY Coin: Raging 52-Week High for the RAY Bulls, What’s Next?

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