Technical analysis by ByteSignals about Symbol RAY: Buy recommendation (6/4/2025)

Raydium is currently trading within a well-defined ascending channel, respecting both support and resistance since early 2024. After a healthy pullback to the lower trendline, price has shown a bounce, suggesting renewed buying interest at this key level.🔍 Pattern Observations:Price is holding the channel support strongly, confirming it for the third time.Mid-channel rejections have acted as temporary resistances, while the overall structure remains intact.The recent test of the lower trendline presents a strong risk-reward entry zone for long-term bulls.📊 Bullish Scenario:If RAY continues to respect this channel and breaks above the upper resistance:Breakout Target Projection (measured move from channel height):Current price breakout estimate: ~$2.43Height of channel: ~$4.50➤ Projected Target = $2.43 + $4.50 = ~$6.90 to $7.00Extended Projection (conservative fib extension aligns with your markup):Potential blow-off target: ~$25 to $30🎯 Targets (Post-Breakout):Initial: $6.90 ~184%Mid-Term: $15.00 ~517%Long-Term: $30.00 ~1135%💡 Conclusion:RAY is setting up for a potentially explosive breakout. If the structure holds, current levels may offer a high-probability long entry with favorable upside. Keep an eye on volume confirmation and daily closes above the mid-channel to gauge momentum.#RAYUSDT #CryptoAnalysis #Raydium #BullishPattern #BreakoutSetup #Altcoins #TradingView