Raydium (RAY) Breakout: Eyes $4.95 Price Target Driven by Solana’s DeFi Surge

Raydium (RAY) has surged past key support levels, reaching a new high above $2.57 with bullish momentum driving the price towards $4.95. This breakout is fueled by a strong combination of rising volume and upward-sloping moving averages on the 4-hour chart. The RSI’s overbought level suggests short-term consolidation but confirms continued upward trend for RAY, with targets exceeding $4.95. The surge in trading activity on Solana’s decentralized exchange ecosystem, driven by memecoin demand, has further amplified Raydium’s ascent.