Raydium’s (RAY) price has rebounded more than 10% after the Monday morning crash, pushing its market cap close to $2 billion. Technical indicators are now showing signs of a potential bullish continuation.

RAY’s revenue and trading volume remain among the highest, reinforcing its position as a leading Web3 protocol. Whether RAY can sustain this momentum or face another downturn will depend on its ability to hold key support levels and confirm an uptrend.

Raydium Is One of The Biggest Blockchain Applications In The Market

Raydium has emerged as one of the top revenue-generating blockchain protocols, bringing in over $42 million in the last seven days. This puts it ahead of major players like Circle, Uniswap, and even Ethereum in terms of earnings.

Over the past year, Raydium has generated nearly $1 billion in revenue, coming remarkably close to Solana’s $965 million.

In terms of trading volume, Raydium has handled around $3.4 billion in the last 24 hours and $21 billion over the past week, solidifying its place as one of the most used Web3 projects ever.

RAY RSI Is Recovering After Hitting Oversold Levels

Raydium’s RSI is currently at 53.87, rising sharply from 20.8 just two days ago. The Relative Strength Index (RSI) measures momentum by tracking recent price movements, with values below 30 indicating oversold conditions and above 70 signaling overbought levels.

The recent jump suggests that buying pressure has increased, bringing Raydium out of oversold territory and into a more neutral range.