RAY Coin rises on Solana as Elliott Wave analysis and a triangle breakout point to further gains toward the $4 mark.
Raydium’s native token RAY has broken out of a technical triangle pattern, catching the attention of traders and analysts. The breakout comes as Elliott Wave analysis points to a possible bullish rally, with some chart analysts setting targets above $4. The move is part of a broader trend where Solana-based assets have seen renewed interest, even as much of the cryptocurrency market has struggled with low momentum.
RAY Market Performance and Technical Breakout
RAY is trading near $3.36, with a market capitalization of about $901.5M. RAY has gained 102.96% since the start of 2025, despite experiencing small daily pullbacks. Data shows RAY has also outperformed Bitcoin and Ethereum in the last year, with a gain of more than 9% against both.
Ali Charts noted on X that the breakout from the triangle pattern points to a near-term target of $4. Analysts monitoring the price structure have said the Elliott Wave formation suggests the token could extend gains if momentum is sustained. With RAY still well below its all-time high of $16.24, investors are watching closely for confirmation of further upward movement.
Trading volume on RAY-linked markets has remained steady. Over $132 million worth of RAY changed hands in the past 24 hours. The activity shows continued trader interest despite caution in the wider cryptocurrency sector.
Expansion of Raydium’s Platform
Raydium, the decentralized exchange behind the token, has been central to the Solana ecosystem. The platform supports automated market making while also connecting to Serum’s order book, which allows users to provide liquidity and execute trades. In November 2024, the platform recorded $124.6 billion in monthly trading volume, a sharp increase from earlier periods.
The exchange has broadened its services in 2025 with the introduction of perpetual futures contracts that offer up to 40x leverage. It has also introduced gas-free trading, which lowers costs for active traders. Raydium’s LaunchLab has become an important feature for developers, giving them tools to create and launch tokens with multiple bonding curve options. A surge in new projects through LaunchLab contributed to a rise in RAY’s value earlier this year.
The platform’s growth has also been supported by its ability to maintain a large share of Solana’s decentralized trading volume. Even with competition from PumpSwap and Pump.fun, Raydium has retained a stable user base. Analysts point out that new features and token launches continue to strengthen liquidity and attract developers.
Risks and Outlook
While RAY has shown growth, challenges remain in the broader Solana ecosystem. Reports earlier this year noted that a high percentage of newly created tokens on rival platforms were scams. Although Raydium itself was not directly connected, the wider perception of risk has placed pressure on Solana-based exchanges. Raydium has responded by enhancing its governance and strengthening its security checks for projects launched through its platform.
Looking forward, RAY’s performance may depend on its ability to balance innovation with user trust. The breakout pattern and bullish Elliott Wave signals suggest room for further price movement, but volatility remains a key factor. Traders and analysts continue to monitor RAY’s structure closely as it approaches possible resistance levels near the $4 mark.
