The year 2023 started off well after last year’s collapse and, if the positive trend continues, it will end on a good note. This year, there has been a significant increase in interest in the tokenization of real-world assets. Alongside this, Chainlink has made a major breakthrough. With their experiments with Swift and the statements of major financial companies in the tokenization field, interest in RWA altcoins has grown. LINK and TRB Coin are the most well-known ones, but what about the others?
Last week, the price broke out of the $1.05 horizontal resistance area and surpassed the 800-day resistance. The closing price confirmed the break of this resistance. The weekly RSI confirms a major reversal. If the upward movement continues, the $2.07 region could be targeted. To sustain the long-term bullish outlook, the $1 support area must be maintained. If there are closes below support, the price could decline to $0.55.
The price has been fluctuating between $0.1 and $0.3 since March 2022, which has been a challenge for investors. In February 2023, the resistance area was rejected and we saw the price drop to $0.1. Now, DUSK Coin has reached $0.19 again, and a retest of $0.3 is expected. Popular crypto analyst HaycheMac believes that the current movement will continue towards the $0.3 peak.
However, if the price fails to surpass $0.2, it could fall back to $0.1.
The CFG price has been on the rise since the beginning of the year and broke free from the $0.4 resistance that has been holding since April 2022. What stands out in all three altcoins is the overcoming or potential overcoming of long-term resistances with the excitement of RWA. This situation will give them an advantage in the expected altcoin bull market next year.
Analyst Algos_in_crypto said on social media that breaking the 500-day resistance is important but a move that has been overlooked.
“Not talked about much, but CFG has broken the resistance that has been in place for over 500 days.”
The weekly RSI confirms the upward trend, and the next resistance area is at $0.7. If the rally continues, a 260% surge could target $2. On the contrary, we could see a drop to $0.4 in the opposite scenario.