Raydium (RAY) Might Be Heading Lower After 15% Fall

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Raydium (RAY) Might Be Heading Lower After 15% Fall

In Brief

  • The price of Raydium (RAY) has plummeted to $1.00, down by -15% in the past week.

  • In comparison, the entire market is down by -0.4%.

  • 14 previous historical occurrences of the closing marubozu candle indicator suggest that prices could be headed lower.

Raydium has plummeted sharply recently, and unfortunately for investors historic price movements suggest that the market is heading lower.

Of course, we don't have a crystal ball, but we do have a ton of data. Stack has looked over the past performance of Raydium (RAY) in similar circumstances to try and determine future price action.

Specifically, we explored 14 previous occurrences where the closing marubozu candle was spotted, this is what we found.

Why Raydium's Price Might Be Moving Move Lower

In summary: we have seen this situation play out before, or at least similar situations.

Over 14 past occurrences, we found that 92.86% of the time the price increase by a median -26.23% over the following 60 days.

For example, on February 28th, 2022 we saw this indication and a price move of Raydium move by 0%, only to then move by -11.4% over the following 60 days.

Raydium chart

The chart above shows the past occurrences of this indicator with the price.

What does this mean for investors?

This is just one, data-backed signal, based on a number of previous periods. Many of factors can affect the price of any investment.

Crypto is no different. Social media, developer activity, the number of exchanges as well as on-chain activity are just a handful of factors that can affect the price of any crypto project. These factors are all considered when Stack ranks crypto assets.

{If you believe that other factors, including the global crypto market, are favorable assuming the suggested 7-day holding period. Then it could represent a good trade, or a good entry point for longer term investors. We recommend that you do your own research (DYOR) before making any investments. |It's critical to before making any investments. Crypto can be highly volatile, and other factors, like the broader crypto market, are likely to influence prices. Always DYOR before jumping in.

What else could be moving the price?

Lot's of factors can influence the price of any investment. Here are just a few that could impact the price of Raydium.

The entire crypto market's direction

The crypto market is also down by a median -0.4%. Most cryptos are highly correlated, especially to Bitcoin and Ethereum. So this is likely affecting the price.

Project developments

How active have the developers for Raydium been?

During the past 4 weeks there have been 66 commits on Raydium's Github account. This compares to an average of 2 commits per week.

Identifying significant changes in developer activity can suggest potential new products being worked on and identify abandoned projects that might be in decline.

Social media

Social media can have a powerful effect on crypto prices. Even a single tweet can move markets.. It can be hard to judge sentiment just by scrolling, but you can use tools like Stack to monitor the growth of a project's followers.

Raydium's Twitter followers have risen by 0% over the past 7 days. You can view stats for other networks in the full report for Raydium.

Important Disclaimer: This material is for informational purposes only. None of the material or any material on the stack.money website should be interpreted as investment advice. Stack does not make any express or implied warranties, representations or endorsements whatsoever with regard to the material or related information. In particular, you agree that Stack and it's owners assume no warranty for the correctness, accuracy and completeness of the material.