The cryptocurrency market is witnessing a surge in the popularity of Real World Assets (RWA), a new type of asset that is being tokenized for simplified trading and investment. These assets are gaining traction alongside AI altcoins, offering a unique investment opportunity. The article highlights three significant projects in this space.
What is Happening with AVAX Prices?
Avalanche (AVAX) has seen its price drop to a seven-month low, reminiscent of December 2023 levels. Trading at $28.48, it remains above the crucial support level of $27.72. The Relative Strength Index (RSI), a tool used in technical analysis to gauge the speed and change of price movements, shows an upward trend. AVAX, emerging from an oversold zone, might aim for a close above $31, confirming a bullish trend when the critical support is regained and the RSI tests the neutral line as support.
How is Chainlink Performing?
Chainlink (LINK) has managed to maintain its critical support level, unlike AVAX. LINK bounced back from $12.9, securing its support base and presenting a bullish outlook. The RSI’s near closure in the bullish zone above the neutral line supports this positive trend. Given Chainlink’s dominance in the Oracle space, a swift recovery is plausible, with a target price of $16.5 as broader market signals indicate slight bearishness.
Maker’s Prospective Recovery
MakerDAO’s native token, Maker (MKR), is showing signs of a robust recovery. After hitting a multi-month low in June and testing $2,200 as a support level, MKR rose to $2,457. The RSI data indicates a bullish zone, and the neutral line is being tested as support. If MKR can surpass the resistance level of $2,693, it is expected to rise to between $3,000 and $3,159 by the end of July.
Concrete Insights and Predictions
- AVAX is looking to break above $31 to confirm a bullish trend.
- LINK’s support at $12.9 suggests a potential rise to $16.5 in the near term.
- MKR aims to surpass $2,693, with the potential to reach $3,159 by July’s end.
As different types of assets continue to emerge in the cryptocurrency market, investors are presented with new opportunities and challenges. The growing interest in RWAs signifies a broader trend towards diverse investment options within the crypto space.
