Raydium price surged 23% in the past 24 hours and is trading at $5.58 as of 6:27 AM EST. The strong 24-hour performance was caused by traders missing out on buying the demon coin.
RAY price performed well after Binance announced that it would list the cryptocurrency on its futures platform. Following this announcement, Raydium became the best performer among the largest cryptocurrencies by market cap in the past 24 hours, beating Bitget Token (BGB) which gained 20% in the same period.
Binance Futures will launch USDⓈ-Margined $RAYSOL, $KOMA, $VIRTUAL and $SPX perpetual contracts on December 10, 2024, at 12:00, 12:15, 12:30 and 12:45 respectively.
Read more ➡️https://t.co/lAGZsn3ytQ pic.twitter.com/0Ci10oB5OO
— Binance Futures (@BinanceFutures) December 10, 2024
Raydium price is attempting to break the $5.5581 resistance level.
RAY/USD 4-hour chart (Source: GeckoTerminal)
Raydium price broke above the $5.2510 resistance level and briefly broke above the $5.5581 mark before falling back again. If the cryptocurrency can close above $5.5581 within the next 12 hours, it may have the technical foundation needed to continue climbing higher. Traders may then push RAY to $5.9164.
However, a rejection from the $5.5581 mark would negate the bullish thesis. In this alternative scenario, the Raydium price could retest the $5.2510 mark. A break below this recently flipped price level could lead RAY down to $4.8586 and even lower if the bearish pressure persists.
Technical indicators suggest Raydium prices may continue to climb
From a technical perspective, indicators on the cryptocurrency’s 4-hour chart suggest that Raydium prices could continue to climb over the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) point to a continuation of the cryptocurrency’s positive trend.
The RSI reading has risen from the neutral 50 base to over 60, which could be seen as a sign of bullish strength. With the positive slope of the RSI line, buyers appear to be still gaining momentum and could push Raydium prices higher in the near term.
Meanwhile, the MACD line has crossed above the MACD signal line in the past 24 hours. Traders often view this technical event as a sign that the cryptocurrency is entering a bullish trend. This technical signal has been confirmed by the surge in the price of RAY. As the gap between the MACD and MACD signal lines widens, the bullish momentum of RAY seems to be strengthening.
If these bullish technical signals influence traders’ decisions, the cryptocurrency could soon break out of the previously mentioned resistance level of $5.5581 and attempt to move up to $5.9164.
While RAY attempts to break through technical resistance, investors are piling into new memecoin Catslap (SLAP), a new viral cryptocurrency rumored to be coming to Binance after Raydium.
New cat-themed cryptocurrency may follow Hamster Kombat’s growth trajectory
Catslap (SLAP) is a new cat-themed crypto token that is off to a strong start in the cryptocurrency market. The cryptocurrency is driven by a rapidly growing popularity that can be attributed to its viral slapping game. Recently, the project team added a play-to-earn element to the game, allowing players to earn cryptocurrency rewards simply by accumulating slaps.
This puts Catslap on track to replicate the success of the viral Telegram click-through game Hamster Kombat, which is listed on major exchanges and boasts a market cap of over $224.13 million, even though its native currency, HSMTR, has fallen more than 65%.
Although Catslap is still in its early stages, the project has not had a hard time gaining ground in the market. Its price has risen by more than 48,17% since its listing, and SLAP’s market cap has soared to $40 million. If this cat-themed cryptocurrency experiences the same growth as HMSTR, its price could rise more than 5 times again.
In terms of exchange listings, Catslap has already made it to MEXC, a top cryptocurrency exchange by daily trading volume. Investors are now speculating that if the project continues to perform well, SLAP is likely to be listed on Binance soon.
Analysts and experts are also bullish on SLAP and predict great things to come for the project in the future. This includes YouTuber Jacob Crypto Bury, who told his over 45.4K subscribers that SLAP could be the next 100x meme coin.
The Catslap team will be making another big announcement in less than 8 days
The Catslap team recently teased a “big announcement” that turned out to be a listing on MEXC. Now, with less than 8 days left until another “big announcement,” investors are rushing to buy SLAP on what could be news of another major exchange listing.
Investors who wish to position themselves ahead of this announcement can purchase the token through a widget on the official website. Currently selling for $0.0054127, SLAP can be purchased using ETH, USDT, or a bank card.
Buy SLAP here.
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