The cryptocurrency market occasionally observes different types of assets coming to the forefront, and the latest addition to this list is Real World Assets (RWA). These tokens, joining AI altcoins in popularity and demand, represent a completely different type. These assets are increasingly being tokenized for easier trading and investment in the crypto market. Here are three notable projects in this regard.
AVAX Chart Analysis
Avalanche’s price has dropped to its lowest level in seven months, reaching levels last recorded in December 2023. At the time of writing, AVAX is trading at $28.48, above the key support level of $27.72.
The Relative Strength Index also indicates an upward trend. RSI is a momentum indicator used in technical analysis to measure the speed and change of price movements, ranging from 0 to 100, with values above 70 indicating overbought conditions and below 30 indicating oversold conditions.
AVAX, rebounding from the oversold zone, might be looking for a close above $31. This bullish trend will be confirmed when this critical support is regained and the RSI tests the neutral line as support.
LINK Chart Analysis
Chainlink‘s price is not different in terms of performance, except for one thing. Unlike AVAX, LINK did not lose its critical support and instead rebounded. The $12.9 level was reinforced as a support base, giving LINK a bullish chance.
The RSI’s near closure in the bullish zone above the neutral line is also a plus. Considering Chainlink’s dominance in the Oracle space, a quick recovery would not be surprising. Following a recovery, the target price turns $16.5 into support next month, as broader market signals remain slightly bearish.
MAKER Chart Analysis
MakerDAO’s native token and the Maker Protocol used to manage the stable project DAI, Maker, is showing signs of active recovery. The altcoin saw its lowest level in several months in June, tested $2,200 as a support level, and rose from this level to trade at $2,457.
The RSI data for this asset is already in the bullish zone, and the neutral line is being tested as support. This is a good sign as it indicates that MKR is already ready for recovery. If the resistance level of $2,693 is surpassed, a rise to $3,000 to $3,159 is expected before the end of July.
