Raydium’s RAY Tests the $2 Level as Spot Selling Outpaces Buying

Raydium (RAY) fell toward $2 after trading above $2.50, with spot selling exceeding buying as derivatives activity remained elevated. The move puts attention on whether the token can hold the $2 level after advancing more than 20% in the week through Oct. 7.

RAY traded near $2.15 and was down 13% on the daily chart at 10 a.m. ET (14:00 UTC) on Oct. 13.

Spot selling reached $3.7 million, compared with $2.6 million in buying, producing a negative buy-sell delta of $1.17 million. Spot netflow was negative $1.3 million on Oct. 12 before turning positive at $500,000 on Oct. 13.

Futures inflows were more than $9.2 million, while outflows reached $8.1 million, leaving net inflows of $1.2 million. Perpetual-futures volume rose from $3.2 million to $9.9 million.

In the market-analysis scenario, $2 is the key near-term threshold. Holding that level would reopen the $2.50 area, while a break could expose approximately $1.80. These levels describe possible market paths rather than confirmed price forecasts.

The MACD also showed a bearish crossover, with the indicator at 0.18.

Separate market-data readings showed different prices and percentage declines. One Oct. 13 reading listed RAY at $2.0776, down 7.52% over 24 hours, with $29.73 million in futures volume and $15.86 million in spot volume. In separate daily data, RAY closed at $2.089 on Oct. 13, down 2.16% from the open.

Raydium is a decentralized exchange and liquidity protocol on Solana. For CPMM and CLMM pools, its fee structure allocates 84% to liquidity providers, 12% to RAY buybacks and 4% to the treasury.

The move followed RAY’s advance of more than 20% as resistance neared $2.60.