The recent price movements of Raydium (RAY), a token linked to the Solana-based decentralized exchange (DEX), have caught the attention of many investors. It has recently hit a seven-month high. This upward trend shows a growing interest in the Solana ecosystem. If the market support continues, RAY could climb even higher.

In a significant achievement, Raydium has recently surpassed Ethereum in fees collected over a 24-hour period. This is a clear sign of its rising activity. The fees on Raydium come from swaps made on the platform. More swaps mean more fees. In the last day, Raydium collected $4.12 million in fees, while Ethereum gathered $3.55 million. This level of activity reflects Raydium's increasing popularity among DeFi users. It may also indicate a bullish sentiment as traders seek out efficient, high-speed platforms. This surge in activity could put upward pressure on the RAY token, and investors are watching closely.

The overall momentum for Raydium is looking positive right now. The daily active addresses (DAA) divergence suggests a buying opportunity. More users are participating, and the recent price rise points to strong market support. Investors are reinforcing this trend, which strengthens the rally. This suggests that RAY might maintain its upward movement in the medium term.

Increased investor participation and the rising price of Raydium create a supportive market environment. The DAA divergence further fuels the uptrend. This connection between price action and user engagement may provide the stability RAY needs to tackle new resistance levels.

RAY’s price has surged by 36% over the past week. It’s currently trading at $2.94, a level not seen since mid-March. This positions Raydium at a seven-month high, fostering optimism about its near-term growth.

To keep these gains, RAY needs to break through the next resistance level at $3.33. If it can do this, it could solidify its recent progress, backed by the factors mentioned earlier. If RAY reaches and holds this level, further upside could be on the way, provided that investor sentiment stays strong.

However, if profit-taking happens, RAY might drop to $2.71. This could offer some stability during a potential decline. But if it falls below this level, it could erase recent gains, possibly sending RAY down to $1.99. This drop could undermine the current bullish outlook.