bullish

Raydium

BOOK OF MEME

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Pyth Network

<p>As the prices of the Raydium (RAY) and PYTH tokens get closer to important benchmarks, they both exhibit encouraging indications of increasing momentum.&nbsp;</p>
<p>Moreover, PYTH’s price is up by 9.10%, while RAY’s price has seen a 6.79% pump over the past day. Analysts are offering their opinions on whether the bullish trends will persist or encounter resistance as these cryptocurrencies approach possible breakout zones.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/why-is-book-of-meme-bome-price-going-up-today/" target="_blank" rel="noopener noreferrer nofollow">Why Is BOOK OF MEME (BOME) Price Going Up Today?</a></em></strong></p>
<h2 class="wp-block-heading" id="raydium-ray-shows-bullish-momentum-post-breakout">Raydium (RAY) Shows Bullish Momentum Post-Breakout</h2>
<p>Raydium’s (RAY) recent price action has been marked by a clear breakout from a symmetrical triangle pattern. Before this movement, RAY had consolidated within the triangle, testing support and resistance levels multiple times.&nbsp;</p>
<p>The breakout was accompanied by a notable increase in trading volume, which indicates strong buying interest. World of Charts mentioned RAY’s price has gained almost 20% since this breakout, and the analyst noted that there is still potential for further gains.</p>
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 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/WorldOfCharts1/status/1849344828267495545" target="_blank" rel="noopener noreferrer nofollow">X/Worldofcharts</a></em></strong>
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<p>The breakout led to the previous resistance line transforming into a support zone around the $2.20-$2.30 range. Traders might consider monitoring this area, as a successful retest of this support could affirm bullish sentiment. With this momentum, RAY could aim for higher targets as long as volume sustains and support holds.</p>
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<h2 class="wp-block-heading" id="pyth-price-faces-resistance-as-it-attempts-to-breakout">PYTH Price Faces Resistance as It Attempts to Breakout</h2>
<p>Pyth Network (PYTH) experienced a 9.10% price increase, bringing it close to critical resistance levels. However, the asset has yet to confirm a breakout, remaining below key diagonal resistances and exponential moving averages (EMAs).&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24PYTH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PYTH</a> has been knocking on the door for a while now… <br><br>Soon but no confirmation yet. We still have some key EMAs as well as 0.5 diagonal fb level above but something to keep an eye on! <a href="https://twitter.com/hashtag/PYTH?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#PYTH</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Alts?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Alts</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://t.co/pYnDmRQVI1" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/pYnDmRQVI1</a></p>— Waleed Ahmad (@waleedahmad82) <a href="https://twitter.com/waleedahmad82/status/1849409584093351946?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 24, 2024</a>
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<p>Top analyst Waleed Ahmad shared that PYTH’s price has been ‘knocking on the door’ of resistance but has not yet secured a breakthrough. He noted the importance of certain EMAs and the 0.5 diagonal Fibonacci level as barriers that <a href="https://coinmarketcap.com/currencies/pyth-network/" target="_blank" rel="noopener noreferrer nofollow">PYTH’s price</a> must overcome for a sustained upward trend.</p>
<p>The chart analysis shows that PYTH has been consolidating after a prolonged decline earlier this year. The current support zone has prevented further downside, acting as a solid base for potential bullish movements. However, a confirmed breakout above these resistance zones is essential to signal the start of a new bullish phase.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/celestia-price-prediction-tia-rally-to-7-50-could-lead-further-to-12-target/" target="_blank" rel="noopener noreferrer nofollow">Celestia Price Prediction: TIA Rally to $7.50 Could Lead Further to $12 Target</a></em></strong></p>
<h2 class="wp-block-heading" id="key-technical-levels-to-watch">Key Technical Levels to Watch</h2>
<p>For Raydium (RAY), the breakout has already set a new trading range, with the previous upper trendline now acting as support. Traders will likely watch for continued buying interest around this level. Indicators suggest that a continuation of the uptrend could push RAY toward its projected target zone.</p>
<p>In contrast, PYTH remains in a critical position, near converging resistance points, including diagonal lines, EMAs, and Fibonacci retracement levels. A clear break and close above these would indicate a potential reversal from the consolidation phase, making PYTH a candidate for a bullish breakout.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/popcat-flips-bonk-on-solana-wheres-the-memecoin-price-headed/" target="_blank" rel="noopener noreferrer nofollow">POPCAT Flips BONK on Solana: Where’s the Memecoin Price Headed?</a></em></strong></p>
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<p>The post <a href="https://captainaltcoin.com/raydium-ray-and-pyth-approaching-key-levels-is-a-breakout-on-the-horizon/" rel="noopener noreferrer nofollow">Raydium (RAY) and PYTH Approaching Key Levels: Is a Breakout on the Horizon?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Raydium (RAY) and PYTH Approaching Key Levels: Is a Breakout on the Horizon?

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