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RAY Price Tests $3.28 Support as Spot Buyers and Whales Step In
Raydium (RAY) has dropped roughly 10% in the last 24 hours, currently testing key support near the $3.28 level. While this may seem like a typical correction after recent gains, deeper on-chain activity reveals a more nuanced picture.
Whales Accumulating at Key Levels
On-chain data indicates that whales are quietly accumulating RAY at current levels. This type of behavior near a demand zone often reflects confidence from larger investors, even when the broader sentiment appears cautious.
Historically, similar patterns have preceded price recoveries — especially when whale accumulation aligns with structural support zones.
Retail Buyers Still Active in Spot Markets
Retail interest in RAY hasn’t faded. Since mid-June, spot market data shows that buyers have consistently maintained control. Order flow remains net bullish, helping RAY avoid deeper retracements despite recent volatility.
This ongoing retail participation provides a buffer against heavy downside, keeping price action relatively stable even as momentum indicators cool.
Mixed Signals, But Structure Holds
Technically, the short-term trend has turned slightly bearish, with momentum weakening and charts showing pressure. However, the broader bullish structure remains intact above $3.05.
If this zone holds and whale buying continues, RAY may be setting up for a reversal and potential rally. The coming sessions will be critical in determining whether this support zone turns into a solid base for the next leg up.
For now, all eyes are on whether buyer strength — both institutional and retail — can lead RAY back into bullish territory.
