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Analysis of Top Real World Assets Tokens Amid Market Correction

by A1

3 months ago


The cryptocurrency market is witnessing positive price movements post Bitcoin's successful reclamation of the $57,000 level. Major altcoins have also shown notable uptrends in their respective portfolios recently.

Meanwhile, Real World Assets (RWA) tokens have gained momentum, with some tokens experiencing double-digit gains in the last hour. The question arises whether the RWA category will outshine top crypto tokens in the near future.

This article explores the top 3 RWA tokens poised for significant uptrends in the coming weeks.

Chromia (CHR):

Notably, CHR's price has corrected by 2.38% in the last 24 hours, with a 30% increase in trading volume. It has surged by over 10% in the past seven days and boasts a Year-to-Date return of 31.41%, indicating a bullish sentiment.

The MACD indicator for Chromia reflects a decline in the green histogram, signaling reduced buying and selling pressure. However, the averages suggest a mixed sentiment in the market.

If Chromia maintains a price above the key support level of $0.2580, it could witness a bullish rally towards the upper resistance level at $0.3430. Conversely, a bearish scenario might lead to a test of the monthly low of $0.1925.

Chainlink (LINK):

Amid increased price volatility, Chainlink has added 4.97% to its portfolio in the last 24 hours with a trading volume of $369.609 million. However, the altcoin struggles to breach the crucial resistance level of $13.275.

The Relative Strength Index (RSI) for Chainlink has surged towards the midpoint, indicating heightened buying sentiment. The average trendline shows a bullish crossover, suggesting a positive market outlook.

On the flip side, the Simple Moving Average (SMA) acts as a resistance in the 1-day timeframe, reflecting a mixed sentiment in the crypto space.

A bullish reversal could push Chainlink towards its high of $15.050, while a bearish trend might result in a retest of the key support level at $11.775.

Mantra (OM):

Despite the market correction, Mantra has witnessed a 4.16% increase in the last day and a substantial 21.24% rise over the past week. The OM coin has soared by 2.46% in the last 30 days, boasting a remarkable Year-to-Date return of 1,490.70%.

The Moving Average Convergence Divergence (MACD) for Mantra displays a bullish sentiment with a consistent green histogram. The averages indicate a notable uptrend, suggesting continuous value appreciation.

By holding above the critical support level of $0.850, Mantra could target the upper resistance at $1.035. However, a bearish reversal may push the altcoin towards the crucial support level of $0.6250.

Polymath (POLY):

Polymath operates on the Ethereum blockchain and enables users to create, issue, and manage security tokens. With Polymesh addressing regulatory needs for regulated assets, the project caters to the capital market requirements.

The current trading price of POLY is $0.08899, with a circulating supply of 924,998,413 tokens and a total supply of 1 billion tokens. Despite a recent correction of 15.03%, the altcoin has surged by 8.90% in the last day and 23.55% in the last 30 days, indicating a strong bullish outlook for POLY's price in the near future.

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