RAY experienced a significant decline in the past 24 hours, but the story behind it is not that simple. Raydium, which just listed on mainstream exchanges, is showing some interesting technical signals—there are pressure points as well as signs of a rebound.

First, the good news. The RSI has bounced back from the oversold area, which usually indicates a potential correction or momentum shift in the short term. Additionally, Raydium's token distribution is relatively decentralized, with no high concentration of large holders, reducing the risk of a dump by a few major holders. The new exchange listing also opens up more liquidity channels, which is a positive for long-term builders.

But the pressure definitely exists. The 7-period EMA has already broken below the 25-period and 99-period support lines, clearly indicating a short-term downtrend. The capital flow is also not very encouraging—net outflows combined with a low ratio of large inflows suggest selling pressure is indeed building up. The community can also feel this anxiety; while some insist on holding long-term, the decline is still somewhat painful.

The core issues are these: the downtrend is still ongoing, and selling pressure has not been fully released. However, based on the RSI's performance, a rebound window might be just around the corner. If you're watching RAY, this is a good time to observe—see if you can find a potential entry point during this oversold phase.