Raydium Looking Toppy (Top/High = Bearish)

22 paź

This is the type of pair to stay away from, Raydium (RAYUSDT), or, I should say, this pair looks bearish and can be good only for going SHORT.

Raydium grew a lot and is super bullish. It grew since late 2023 after a long period of consolidation and is now trading at high prices. When prices were low, this would have been a great option to buy. Now that prices are high, it is no longer a good option, right now is the time to sell.

We can see strong green candles now on a daily basis, volume is low. We can see a parabola and prices never move straight up. It can peak today, tomorrow or in a few weeks (likely soon), but there is way too much resistance right ahead. This is the type of pair that we either SHORT or stay away.

It is more likely than not to crash soon.

I hope you find this information useful (take profits!).

Thank you for reading.

Namaste.