Plasma Price Eyes Rebound Amid Oversold RSI as TVL Crosses $5.45B

Plasma's price has retreated 13% in the past 24 hours to $1.14, marking a 32% decline from its September 28 all-time high of $1.68. The token's market capitalization now stands at $2.05 billion, with a fully diluted valuation of $11.43 billion.

Despite the price drop, network fundamentals show remarkable strength. Total value locked has more than doubled since September 26, surging to $5.45 billion. The $6 billion stablecoin market capitalization on Plasma underscores growing demand for its high-efficiency infrastructure.

Technical indicators suggest potential for recovery. The oversold RSI positions $1.12 as critical support, with resistance expected NEAR $1.32. Trading volume remains robust at $2 billion daily, up 11.2% from previous levels, while derivatives markets show stable open interest despite reduced short-term speculation.