- TD Sequential sell signal appears as Raydium tests the $2.30 resistance level.
- Long liquidation clusters form below $2.16, raising the risk of a deeper correction.
Raydium [RAY] has recorded an impressive recovery since its consolidation phase in March, climbing over 60% as bullish momentum returned to the altcoin market.
In fact, a TD Sequential sell signal has now surfaced on the daily chart—often a red flag that suggests trend exhaustion may be near.
The token is approaching a critical resistance zone near $2.30, where prior rejections have occurred.
With market participants eyeing this region closely, the next few sessions could determine whether this rally will extend further or stall into a corrective phase.
A cautiously bullish outlook
While price action continues to push upward, the Funding Rate tells a more grounded story.
The OI-Weighted Funding Rate sat at 0.0054% at press time, reflecting a slightly bullish sentiment without veering into overconfidence.
This neutral-to-positive rate suggests that while traders are positioned long, they are doing so with limited leverage. In fact, the lack of reckless leverage speaks to a more disciplined risk appetite.
This maturity in positioning reduces the odds of a wipeout and often lends staying power to trends.
Source: CoinGlass
RAY liquidation map reveals…
Derivatives heatmaps add an important layer to this outlook.
A dense cluster of long liquidations sits between $2.04 and $2.16, meaning a drop into this zone could trigger a rapid wave of forced selling.
On the other hand, short liquidations above $2.32 are comparatively thin, implying less friction if the price breaks higher.
The liquidation map paints a picture of asymmetric risk: downside wicks could accelerate, while upside movement might be smoother. Maintaining support above $2.16 becomes crucial for sustaining this bullish setup.
Source: Coinglass
A healthy but cautious buildup
Market activity shows that traders are becoming more engaged, but not recklessly.
As of press time, Open Interest stood at $16.48 million, while volume surged to $37.8 million.
The divergence between volume and declining Open Interest highlights growing participation without a spike in speculative leverage.
This divergence signals that participants are using spot and low-leverage plays rather than piling into speculative bets. That restraint, in turn, gives this rally stronger legs.
Source: CoinGlass
Breakout potential above $2.51 resistance
Technically, RAY has cleared the upper boundary of a prolonged accumulation range between $1.48 and $2.51. The asset is forming higher lows, with structure favoring continuation if buying pressure sustains.
At press time, the token traded at $2.27—up 3.57% in 24 hours. However, bulls must protect $2.16 and push decisively above $2.51 to validate a breakout.
If these conditions are met, the next significant resistance lies at $4.50—a zone that previously rejected momentum and triggered a reversal.
Reclaiming that level would confirm a larger trend shift in favor of buyers.
Source: TradingView
Cautious optimism
Despite the TD Sequential sell signal hinting at short-term exhaustion, broader metrics continue to support the bullish narrative.
Funding Rates remain steady, leverage is contained, and volume growth signals growing conviction.
As long as bulls defend $2.16 and break above $2.51 with momentum, the uptrend remains in play. However, a dip below support could shift sentiment rapidly, triggering liquidations and exposing RAY to deeper losses.
