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The Raydium price surged 17% in the last 24 hours to trade at $5.65 as of 02:56 a.m. EST on trading volume that jumped 26% to $166 million.

The strong performance by the RAY price has made the altcoin the biggest 24-hour gainer in the crypto market on CoinMarketCap.

Raydium Price Gearing Up For A Sustained Rally

The RAY price is currently displaying a bullish Elliott Wave structure, with the chart suggesting that the asset is in the process of forming Wave 5 of an impulse wave sequence.

According to data from GeckoTerminal, Wave 4’s correction aligns well with Fibonacci retracement principles, as the price found support at a previous accumulation zone before rebounding.

The Raydium price is slightly below the 50-day Simple Moving Average (SMA), meaning breaking above it could signal further bullish momentum. Meanwhile, the price of RAY remains well above the 200-day SMA at $3.6998, reinforcing the overall bullish trend.

The Relative Strength Index (RSI) is at 47.54, which is in a neutral zone. This indicates that the asset is neither overbought nor oversold, leaving room for further upward movement before reaching an overbought level (above 70).

RAY/USDT Chart Analysis Source: GeckoTerminal

RAY Price Prediction

Given the current market structure, RAY appears to be in the early stages of its fifth wave, which could push the price significantly higher.

If the Elliott Wave structure holds, the first target will be $7.00, which is a retest of the previous resistance from Wave 3. If the price of Raydium sustains the trend, the second target will be around $9.00-$10.00, which is a full extension of Wave 5, aligning with previous highs.

However, if the price of RAY fails to break above the $5.84 resistance (50-day SMA), there could be another retest of the $4.50 support zone before further upside.

In the meantime, investors are flocking to the presale for Best Wallet (BEST), which, according to ClayBro, a popular YouTuber with over 136K subscribers, is one of the best wallets of 2025.

Best Wallet Crosses $9.5M In Presale

Best Wallet is an innovative cross-chain Web3 wallet supporting 60+ blockchains, featuring a built-in DEX, presale aggregator, and crypto debit card.

Its native token, BEST, powers an ecosystem designed to simplify on-chain activities while minimizing security risks, making it a standout in the competitive crypto wallet space.

Best Wallet is quickly gaining traction and is now competing with popular wallets like Trust Wallet and MetaMask, with the potential to outpace them due to its unique array of features.

250K+ traders are locking in their edge with Best Wallet. 💎
Track new tokens, trade seamlessly, and manage your entire portfolio in one app. ⚔️
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— Best Wallet (@BestWalletHQ) February 3, 2025

A key feature that sets Best Wallet apart is its “Upcoming Tokens” section, a presale aggregator that identifies high-potential projects.

The project’s success in identifying promising projects is clear. It has already flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.

Currently, BEST tokens are priced at $0.02395. Those interested in joining investors who have pumped more than $9.5 million into the project should buy before a price hike in 33 hours.

Buy and stake BEST here for a competitive 175% APY.