thenewscrypto.com
- Raydium ($RAY) price dropped 7.31% in 24 hours, trading at $2.33 with falling volume.
- Market cap slid to $675.23M, while unlocked valuation stands at $1.31B.
Raydium ($RAY) faced a sharp market pullback as its price declined to $2.33, marking a daily drop of 7.31%. This sudden downturn erased significant value, driving its market capitalization to $675.23 million. The decline represents a 6.34% contraction in market value. With an unlocked market cap of $1.31 billion, Raydium’s current valuation indicates notable pressure from broader market sentiment.
The trading volume in the past 24 hours plummeted by 15.48%, now standing at $45.03 million. This plunge pushed the market cap ratio to 6.58%, signaling weakening momentum. Despite this, Raydium maintains a total value locked (TVL) of $1.81 billion, which positions its market cap to TVL ratio at 0.3761—a signal of undervaluation by DeFi standards.
Will $RAY Surge Back or Plunge Further?
Price action on the daily chart reveals clear signs of a bearish continuation. $RAY currently trades at $2.345 after failing to sustain higher lows. If support at $2.30 breaks, the price could descend toward the $2.00 psychological level. Conversely, a bounce from current levels could face resistance near $2.95. A breakout above this range may drive $RAY toward $3.50 in a risk-on scenario.
Technicals paint a cautious outlook. The 14-day Relative Strength Index sits at 34.30, nearing oversold conditions. However, its divergence from the RSI average at 49.66 suggests extended weakness and little recovery intent. As a result, bullish momentum remains scarce. The daily moving average, curving downward, reinforces this short-term bearish bias.
The Chaikin Money Flow (CMF) now rests at -0.27, indicating persistent capital outflows. This trend highlights investor hesitancy and declining accumulation. A sustained CMF under zero often precedes further drawdowns unless offset by sudden inflows or volume spikes.
Momentum indicators show no immediate recovery signals. Moreover, moving average convergence-divergence patterns remain unremarkable. If price fails to reclaim the mid-range resistance, further declines appear more likely.