Altcoins
5 Altcoin Real World Assets (RWA) to trade in June 2024
Avalanche (AVAX), a leader in the Real-World Asset token category, currently has a valuation of $13.7 billion. Real-world assets (RWA) represent physical assets, such as real estate or commodities, digitally tokenized on a blockchain, providing fractional ownership and liquidity.
BeInCrypto has compiled a list of the best RWA tokens that should be part of your trading portfolio in June.
Avalanche (AVAX)
Over the past two weeks, Avalanche has consolidated between $40 and $32. Despite numerous tests of these ranges as resistance and support respectively, AVAX’s attempts to break above them have failed.
Even at the time of writing, the altcoin is trading at $34, approaching the $32 support. The broader market signals are currently bearish, which could cause Avalanche’s price to drop to $31.
To know more: Avalanche price forecast (AVAX) 2024/2025/2030
Avalanche price analysis. Source: TradingView
But a breakout could send it towards $45 to mark a multi-month high.
Shirt (LINK)
Chainlink price is also following broader market signals, which could signal a slight correction for the altcoin. The month of May proved to be profitable for both the asset and investors, as the price increased by 44%.
LINK recently attempted to break out of the critical barrier of $18.78, a level it failed to surpass even in April. Failure to break this limit resulted in Chainlink’s price dropping to $17.7, and if the decline does not stop, a drop to $16.55 is possible.
To know more: Chainlink (LINK) Price Prediction 2024/2025/2030
However, a breakout of this resistance could initiate recovery from recent losses, pushing LINK to $20 and above.
Internet Computers (ICP)
ICP has been one of the slowest moving assets over the last month and a half, with very little movement in any direction except sideways. Continuing to favor the bearish bias, the altcoin traded at $12.12 after failing to surpass $15.34.
The relative strength index (CSR) also struggles to signal a bullish result. The RSI is a momentum oscillator that measures the speed and change of price movements. It fluctuates between 0 and 100, indicating overbought conditions above 70 and oversold conditions below 30.
To know more: Internet Computer Price Forecast (ICP) 2023/2025/2030
It is currently below the neutral threshold at 50.0, and testing it as a support level would accelerate a potential recovery.
This could push the ICP above the $12.91 and $15.34 resistances to trace a rally towards $17.92.
Synthetix Network (SNX)
Although not among the top 50 or even top 100 assets in the cryptocurrency market, Synthetix is still one of the leading RWA tokens. With a market capitalization of $876 million, SNX has surged during the recent wave of artificial intelligence (AI) hype.
However, the uptrend could not persist, resulting in a decline in the price of Synthetix. As a result, the altcoin was consolidated below $3.15, but remains above $2.33.
To know more: Synthetix (SNX) Price Prediction 2024/2025/2030
If either price level is broken, the consolidation thesis will be invalidated, resulting in a rally or crash.
Creator (MKR)
Maker’s price is currently at a three-month low of $2,384. The altcoin has been in a bearish trend since early April, moving from its high of $4,000 to its current price.
Breaking above the support at $2,556, MKR could slide below that support. The resulting drop could take it to the low of $2,271.
To know more: Maker Price Forecast (MKR) 2023/2025/2030
On the other hand, bullish signals from the rest of the market could trigger MKR’s recovery. This would push it through the $2,693 resistance to $3,159. A breach of this resistance would invalidate the bearish thesis.
Disclaimer
In line with the Trust Project guidelines, this article on price analysis is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAND Disclaimer They have been updated.