Raydium: Why Strategic Long Positions Continue to Support RAY’s Bullish Momentum

As of April 2025, Raydium (RAY) maintains strong bullish sentiment among disciplined traders. The decentralized exchange’s native token continues to attract strategic long positions, demonstrating confidence in its underlying technology and market position. Key factors driving this optimism include Raydium’s deep liquidity pools, innovative automated market maker (AMM) features, and seamless integration with the Solana blockchain ecosystem. Traders are particularly focused on RAY’s ability to maintain momentum despite market fluctuations, with technical analysis showing robust support levels. The project’s consistent development updates and growing adoption across DeFi applications further reinforce the case for sustained growth. Market analysts highlight RAY’s relative strength index (RSI) patterns and trading volume trends as indicators of healthy market participation. This professional interest suggests Raydium may be positioning itself for another potential breakout, though as always, proper risk management remains essential in volatile crypto markets.

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.