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.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.