Raydium (RAY) is currently experiencing an accumulation phase, with traders eyeing a potential breakout target of 650. This movement is supported by Fibonacci extension levels, indicating a strategic point for market participants. The publication provides the following information: traders are optimistic about the upcoming price action.
Raydium Price Structure and Bullish Sentiment
As Raydium consolidates, its price structure reveals a pattern of steady higher lows, suggesting a bullish sentiment among traders. Analysts emphasize that a sustained movement above the 380 mark is crucial for confirming a breakout, which could lead to significant price action in the near future.
Total Value Locked and Market Capitalization
Additionally, the total value locked (TVL) in Raydium stands at an impressive 254 million, which is more than three times its current market capitalization. This disparity points to a potential undervaluation of the asset, further attracting the attention of investors looking for opportunities in the evolving crypto landscape.
