- Raydium (RAY) has crashed over 60% in the last 90 days amid broader crypto market weakness, but has posted an impressive 37% gain in just the past week.
- Crypto analyst Shelby identified a Bullish Gartley Pattern on RAY's 3-day chart, with the D-point aligning at $1.45 where the token recently found support.
- Currently trading around $2.15, the pattern suggests potential upside targets at $3.74 as first resistance, followed by $6.00 and $8.67 if momentum continues.
- A clear breakout above the $3.74 resistance level would provide stronger confirmation of a sustained trend reversal for RAY.
Date: Tue, April 15, 2025 | 04:45 PM GMT
The cryptocurrency market has recently faced intense selling pressure, with Ethereum (ETH) marking its worst Q1 performance since 2018, dropping over 45%. This broad downturn has hammered altcoins across the board — and Raydium (RAY) was no exception, crashing more than 60% over the last 90 days.
However, momentum is starting to shift.
RAY has posted an impressive 37% gain in just the past week, and now a well-known harmonic pattern on the chart is hinting that a stronger rebound could be on the horizon.
Bullish Gartley Pattern Signals Potential Upside
Crypto analyst Shelby recently pointed out the emergence of a Bullish Gartley Pattern on the RAY 3-day chart. This harmonic structure, formed by the classic X-A-B-C-D wave sequence, often appears at the end of a downtrend and signals a potential reversal.
The D-point of the pattern aligns almost perfectly with the $1.45 level, where RAY recently found support before beginning its current bounce. Notably, this zone also lines up with the 0.994% Fibonacci retracement of the X-A leg — a classic completion zone for a Gartley.
At the time of writing, RAY is trading around $2.15 and showing signs of continued strength.
Shelby believes that if this pattern plays out fully, RAY’s next major resistance lies near $3.74, a level that could act as the first target. A successful breakout above this zone could open the door to even higher levels at $6.00 and $8.67, where previous highs were recorded.
Final Thoughts
Raydium is showing signs of life after a brutal correction, and the presence of a well-defined Bullish Gartley Pattern suggests this could be more than just a short-term bounce. If broader market conditions continue to improve and RAY breaks through key resistance, a sustained recovery may be in play.
Still, traders should keep a close eye on how the price reacts around $3.74, as a clear breakout above that zone would be a stronger confirmation of the trend reversal.
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