Raydium’s RAY Falls 12% as Price Tests $1.82 Support

Raydium’s RAY token fell 12.06% on Sept. 28 after reaching $2.18, bringing the price toward the $1.82 support area after a sharp monthly advance.

RAY climbed from $1.47 on Sept. 17 to a Sept. 27 close of $2.18. The move preceded a correction that left the token at $1.85 on Sept. 29, while 24-hour volume stood at $73.73 million.

For the Sept. 28–29 session, RAY opened at $2.17, reached a high of $2.19, fell to a low of $1.87 and closed at $1.90, with $101.12 million in volume. The differing figures reflect variations among market-data providers and measurement periods.

RAY gained 138% over one monthly measurement period before the decline, while a separate 30-day calculation showed a 126.94% increase. The available figures do not explain the difference between the two performance readings.

Open interest fell 8.88% to $15.93 million. Long liquidations totaled about $8.57K, compared with $23.66 in short liquidations. Spot netflows shifted to a $46.26K inflow from a $944.06K outflow the previous day. The lower open interest and liquidation imbalance accompanied the correction but do not establish whether the broader advance has ended.

The $1.82 level is the main technical threshold in the current setup. A daily close below that level would weaken the rising-channel structure, while $2.18 remains a potential rebound area. These levels describe the chart structure and do not establish a future price direction.

Raydium is a Solana-based decentralized-exchange protocol and liquidity provider. RAY is used for staking, initial DEX offering (IDO) allocations and governance.

The price move came after Raydium reached a 2026 high as USDv and Solana-based INJ launched with liquidity on the exchange. The timing of those events does not establish that either launch caused the increase.

The derivatives, liquidation and flow figures represent readings taken around publication and may not represent full-day totals.