Raydium (RAY) To Soar Further? Key Harmonic Pattern Hints at Potential Upside Move

Date: Tue, Sept 09, 2025 | 06:40 AM GMT The cryptocurrency market is showing strength after Ethereum (ETH) demonstrated resilience around the $4,300 level following a retreat from its recent high of $4,953. Riding on this momentum, several altcoins are flashing bullish potential, and Raydium (RAY) is one of the tokens drawing attention. Currently, $RAY is trading back in the green, and more importantly, its chart structure suggests that further upside may be on the horizon.

Source: Coinmarketcap Harmonic Pattern Hints at Potential Upside On the daily chart, RAY is forming a Bearish Butterfly harmonic pattern. Despite its name, this setup often results in a bullish continuation during the CD leg, particularly as price action heads into the Potential Reversal Zone (PRZ). The pattern started at point X ($4.11), dipped to A, rallied to B, and then retraced to C near $3.14. From there, RAY has begun recovering, now trading around $3.40.

Raydium (RAY) Daily Chart/Coinsprobe (Source: Tradingview) A key technical development is that RAY has reclaimed its 50-day moving average ($3.23), flipping it into strong support — a signal that strengthens the bullish continuation case. What’s Next for RAY? If bulls defend the 50-day MA at $3.23, RAY could extend higher into the PRZ zone between $4.39 (1.272 Fibonacci extension) and $4.74 (1.618 extension). These Fibonacci targets mark the Butterfly completion zone and represent the next potential upside objectives for the token. However, failure to hold above the 50-day MA could invalidate this bullish setup and bring a retest of the $3.14 support region back into play. Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.$