Raydium’s (RAY) price has rebounded more than 10% after the Monday morning crash, pushing its market cap close to $2 billion. Technical indicators are now showing signs of a potential bullish continuation.

RAY’s revenue and trading volume remain among the highest, reinforcing its position as a leading Web3 protocol. Whether RAY can sustain this momentum or face another downturn will depend on its ability to hold key support levels and confirm an uptrend.

Raydium Is One of The Biggest Blockchain Applications In The Market

Raydium has emerged as one of the top revenue-generating blockchain protocols, bringing in over $42 million in the last seven days. This puts it ahead of major players like Circle, Uniswap, and even Ethereum in terms of earnings.

Over the past year, Raydium has generated nearly $1 billion in revenue, coming remarkably close to Solana’s $965 million.

In terms of trading volume, Raydium has handled around $3.4 billion in the last 24 hours and $21 billion over the past week, solidifying its place as one of the most used Web3 projects ever.

RAY RSI Is Recovering After Hitting Oversold Levels

Raydium’s RSI is currently at 53.87, rising sharply from 20.8 just two days ago. The Relative Strength Index (RSI) measures momentum by tracking recent price movements, with values below 30 indicating oversold conditions and above 70 signaling overbought levels.

The recent jump suggests that buying pressure has increased, bringing Raydium out of oversold territory and into a more neutral range.

At 53.87, Raydium’s RSI is neither strongly bullish nor bearish, leaving room for further price movement in either direction. Notably, RAY hasn’t touched the 70 levels, which would indicate overbought conditions, since January 19.

This suggests that while the asset has seen renewed strength, it hasn’t yet entered a strong bullish phase. The next trend confirmation will depend on whether the RSI continues to rise or stall at current levels.

RAY Price Prediction: A Further 33% Upside?

Raydium’s price recently corrected by 34% between January 30 and February 3 but has since rebounded nearly 30%. Its EMA lines suggest that a golden cross, where the shortest-term moving average crosses above the longer-term ones, could be forming soon.

If this happens, RAY price could continue its recovery, with a strong uptrend potentially pushing it to retest $7.92. A breakout above that level could lead to further gains, with $8.7 as the next major target, representing a possible 33% upside.

However, if RAY fails to maintain its momentum, it could test support at $5.85, with a breakdown leading to $5.36. A deeper sell-off could see it drop further to $4.71 or even $4.14, marking its lowest level since January 13.

Solana (SOL) price is up 10% on Tuesday, February 4, as it attempts to hold above $200. Its market cap has recovered back above $100 billion. Despite this rebound, trading volume has dropped by roughly 40%, now sitting at $8.9 billion over the same period.

Meanwhile, SOL whale activity is showing signs of recovery after a recent decline, and key trend indicators remain undecided on the asset’s next move. Whether Solana can sustain its momentum or face renewed downside pressure will depend on how it interacts with critical resistance and support levels in the coming days.

Solana Whales Are Recovering From A Recent Fall From Its All-Time High

The number of Solana whales – addresses holding at least 10,000 SOL – has rebounded to 5,120, up from 5,096 just four days ago.

While it remains below the all-time high of 5,167 recorded on January 25, the recent increase suggests continued accumulation by large holders. This comes after a rapid surge from 5,054 on January 17, highlighting strong interest from big players in the market.

Tracking SOL whales is crucial because their buying and selling activity can significantly impact price trends. Large holders often signal confidence in the asset, and their accumulation can indicate bullish sentiment.

While the number is slightly below its peak, the fact that it is recovering suggests that major investors are still engaged, which could support SOL price stability or even future upward momentum.

Solana is Experiencing a Weak Downtrend Trend

Solana’s DMI chart shows its ADX at 33.5, which is a rise from 10.5 just four days ago. While it peaked at 36.2 a day ago, its current level still indicates a strengthening trend.

The ADX (Average Directional Index) measures trend strength, with values above 25 suggesting a strong trend and above 50 indicating an extremely strong one. The recent increase signals growing momentum, but the direction of the trend remains uncertain.

Currently, Solana +DI is at 14.7, up from 6 a day ago, while -DI has dropped to 26.99 from 39 two days ago. The +DI represents bullish strength, while the -DI reflects bearish pressure.

Although bearish momentum is weakening, bullish momentum is still relatively low, meaning the trend remains undefined. If +DI continues rising and crosses above -DI, it could signal a shift toward an upward trend, but for now, the market remains indecisive.

SOL Price Prediction: Will Solana Stay Above $200?

The price of Solana is currently trading between $222.8 and $191, with its EMA lines showing short-term moving averages below the long-term ones.

However, the downtrend isn’t that strong anymore, leaving the trend direction uncertain. SOL price is in a key range where a breakout in either direction could define the next major move.

If SOL price regains its uptrend and breaks the $222.8 resistance, it could climb toward $244.99, with a strong rally potentially pushing it back to $271.

On the other hand, if a downtrend forms and support at $191.69 is lost, the next target would be $181.91, with further downside possibly taking it as low as $168.77.

US Ethereum ETFs hit record volume Monday as investors bought the dip despite market downturns. The nine ETFs saw $1.5 billion in total trading volume, with a $84 million inflow from new investors.

Although the ETFs are performing quite well, trouble remains on the horizon. Their trade volumes are becoming increasingly uncoupled from Ethereum itself as the community faces leadership crises and shaken public confidence.

Ethereum ETFs See Record Trading Volumes

Ethereum has been in a challenging spot lately, but its ETFs are pulling huge numbers. Ethereum was already struggling with declining user counts and falling prices, but Trump’s tariff threats brought huge shocks to the whole crypto market.

However, even while the altcoin was struggling, ETF investors bought the dip in huge amounts, leading to $1.5 billion in trading volume.

Essentially, the broader market shocks triggered huge levels of panic-selling, stop-loss triggers, and forced liquidations. As a key asset for the DeFi space, ETH is vulnerable to swings from overall leveraged trading.

These outflows pumped up the ETFs’ trading volume, and Ethereum delivered net inflows, including $84 million from new investors.

After these complicated actions, Ethereum’s price somewhat recovered from Monday’s early market crash.

However, the leading altcoin has been struggling for a few different reasons. Leadership restructuring at Ethereum has shaken public confidence in the firm, feeding price concerns.

Meanwhile, Ethereum ETFs also have a few bullish factors under their belt. They set a new record for inflows in December, attracting more than $2 billion in institutional interest despite a flagging price.

This trend continued throughout January, with heightened ETF trade despite widening cracks in the Ethereum Foundation.

Additionally, a few outside factors helped juice this rally. Donald Trump’s son, Eric Trump, encouraged his followers to invest in Ethereum via social media.

“In my opinion, it’s a great time to add ETH,” Eric Trump posted.

Open interest in ETH futures contracts on the CME also climbed around 6%, signaling institutional interest. Together, these revenue streams helped guarantee big gains.

Ultimately, Ethereum ETFs are doing well, but the underlying asset’s broader future is still uncertain. Community turmoil is causing serious cracks in the asset’s support base.

This is especially concerning because ETH enjoys prestige and reputation due to its long history in the space. Ultimately, these ETF trades may only paper over broader concerns.