Key Takeaways

RAY’s price could jump by 30% if it breaches and closes above the $3.65-level. However, on-chain metrics revealed that $2.58M worth of RAY has been moved to exchanges, hinting at potential dumping.

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Solana-based Raydium (RAY) is making waves in the cryptocurrency market again with its impressive price performance. On 13 August 2025, the altcoin surged by 21%, thanks to a corresponding Solana (SOL) rally, a shift in market sentiment, and a decline in Bitcoin dominance.

At the time of writing, RAY was priced at $3.60 following the aforementioned surge. As expected, this has spurred trader and investor participation, with the crypto’s trading volume soaring by 90% in just 24 hours. 

And yet, investors and traders remain cautious as the asset approaches a make-or-break level at $3.65. In fact, a well-followed crypto expert shared a post on X,

“RAY was rejected at the top of the channel and could head to the bottom next.”

RAY’s price action and technical analysis

AMBCrypto’s technical analysis revealed that while RAY is undoubtedly on an uptrend, the aforementioned level has a history of strong selling pressure. Since May 2025, RAY’s price has hit this level more than four times. Each time it faced selling pressure, it resulted in significant downside on the charts.

With the altcoin revisiting this level once again, there are now concerns about whether it will repeat history or finally end its prolonged resistance.

If RAY breaches the $3.66-resistance level and closes a daily candle above it, this could open the path for a parabolic move.

If that happens, there is a strong possibility the crypto could soar by 30% to hit $4.75. Meanwhile, if the momentum continues, RAY may extend its upside and potentially hit $5.67 in the future.

Worth pointing, however, that the latest price uptick turned the Supertrend indicator green and positioned it below RAY’s price – A sign that the altcoin has been on an uptrend backed by strong buying pressure.

$2.58 million RAY moves into exchanges

The Relative Strength Index (RSI) stood at 66 – A sign that while the asset may be approaching overbought territory, it still had room for further upside. 

Given the prevailing market sentiment, investors might be leaning on RAY’s previous performances since a notable dump was recorded. In fact, on-chain analytics platform Coinglass revealed that exchanges recorded inflows of $2.58 million over the past 24 hours.

This hinted at potential dumping as the altcoin approached historical levels on the price charts. 

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