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Raydium (RAY) is extending its latest rally as an on-market buyback, stronger trading activity, and renewed investor interest support demand for the Solana-based token. The September 9 buyback directed 12% of protocol commissions toward RAY purchases.
At the same time, daily trading volume climbed 43% above its 30-day average. Technical indicators also remain constructive, with RAY/USD holding above key moving averages and immediate support near USD 1.3616.
The September 9 buyback tied Raydium’s operating activity directly to market demand for RAY. The protocol allocated 12% of its commissions to token repurchases. This structure directs part of trading revenue back into the market through RAY purchases.
The mechanism also reduces available token float while supporting Raydium’s incentive structure. As trading activity rises, the protocol collects more fees. A portion of those fees then returns to the market as buyback demand.
Investor participation has also increased alongside the buyback activity. Daily RAY trading volume has run about 43% above its 30-day average. This increase points to stronger market engagement during the latest price advance.
LaunchLab activity has added another source of interest. StonkFun moved new token deployments onto Raydium’s LaunchLab earlier this month. The shift directs more trading activity and liquidity through Raydium’s infrastructure.
The migration also cut deployment costs from 0.29 SOL to 0.03 SOL, according to the information cited from BeInCrypto. Meanwhile, more than 15 tokenized US equities entered the broader Raydium-linked trading ecosystem.
Those developments expanded activity across the platform as RAY moved higher. The token later reached an 11-month high near USD 1.75 on September 11.
Immediate support sits near the Ichimoku Kijun level at USD 1.3616. Holding above that area would preserve the short-term recovery structure. A break below it could expose lower levels inside the current forecast range.
Momentum indicators also lean positive. MACD and ADX remain in buy territory, while RSI sits in a neutral-to-bullish zone. CCI points to sustained buying pressure, while intraday Bull/Bear Power shows buyers remain in control.
Meanwhile, Stochastic RSI remains neutral. The Awesome Oscillator also provides no additional confirmation for the uptrend. Price action currently sits near the day’s low despite stronger momentum signals.
This creates a short-term divergence between the technical readings and intraday price performance. As a result, traders continue to watch whether buying pressure can translate into another move through resistance.
The first major upside hurdle stands near USD 1.50. A decisive break above that level could bring the September highs around USD 1.75 to USD 1.79 back into focus.
Also Read: Solana Network Status: Outages, Uptime, Current Network Issues
Over the next two to three trading days, RAY/USD is expected to trade between USD 1.2674 and USD 1.7125. The forecast assigns a 70% probability to a higher move, while the baseline case favors consolidation inside that band.
If buyers clear resistance, price could accelerate toward the upper boundary of the forecast range. In contrast, a break below immediate support could trigger retests of lower levels within the same zone.
The key market question is simple: can higher LaunchLab activity keep feeding the buyback cycle long enough to sustain the rally? Continued trading volume would generate more fees and support further RAY purchases.
Higher activity therefore remains closely connected to the protocol’s buyback mechanism. Traders Union reported that daily volume has run about 43% above the 30-day average, reflecting stronger participation during the recent move.
At the same time, weaker activity would reduce that automatic source of demand. Such a shift could leave RAY more exposed to profit-taking following its sharp September advance.
Broader Solana performance and overall crypto market risk appetite will also shape RAY’s next move. For now, trading activity, buyback demand, and support near USD 1.3616 remain the main factors influencing short-term price action.
