Jakarta, Pintu News – On June 19, 2025, the South Korean cryptocurrency exchange Upbit introduced RAY tokens to its KRW and USDT trading pairs, leading to a remarkable price surge of nearly 50%. This surge temporarily halted a 35-day downtrend for Raydium; however, it was unable to breach the established resistance level. As of June 19, RAY is attempting to surpass both diagonal and horizontal resistance lines, aiming for a price target of $3. Let’s delve into the chart to determine the feasibility of this goal.
Raydium Price Prediction: RAY Price Strengthens
According to CCN’s report from June 19, the analysis of the daily time frame indicates that RAY’s price has been in a downward trajectory, following a resistance trend line that has been in place since May 14. During this decline, the price briefly dipped below the horizontal support level at $2,250, which had previously provided stability. The recent surge in RAY’s price, prompted by its listing on Upbit, briefly pushed the token above both diagonal and horizontal resistance lines. However, this increase could not be maintained, as reflected by the formation of a long upper wick on the price chart, signaling a bearish trend despite the initial bounce.
Raydium Price Prediction: What’s Next for RAY?
Even though the current price movements exhibit a bullish inclination, the wave pattern analysis suggests that RAY’s rise may be corrective. After May 15, the price decline formed a five-wave down pattern, identified as wave A in an A-B-C correction sequence. If this analysis holds true, RAY is anticipated to complete wave B within the Fibonacci retracement resistance zone of 0.5-0.618, which falls between $2.90 and $3.12. Following this, a subsequent downward movement is expected as part of wave C.
Moreover, while the initial spike in RAY’s price following its Upbit listing was notable, it lacked sustainability. The wave count indicates that this surge was corrective, yet the price still has the potential to rise toward the $2.90 – $3.10 range before experiencing another decline.
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