Altcoins

5 Real World Assets (RWA) Altcoins to trade in June 2024

Published

7 months ago

30 June, 2024

5 Real World Assets (RWA) Altcoins to Trade in July 2024

The cryptocurrency market has observed that different types of assets take center stage from time to time, and the latest addition to this list is Real World Assets (RWA). Joining artificial intelligence (AI) altcoins in terms of popularity and demand, these tokens are a different breed altogether.

Real-world assets refer to tangible items with intrinsic value, such as real estate, raw materials, and physical goods. These assets are increasingly tokenized to facilitate trade and investment in digital markets.

The protocols allowing this operation have their own tokens which have noted the request; However, choosing the most optimal token for investment remains difficult.

Therefore, BeInCrypto has rounded up some of the biggest RWA altcoins that you should watch over the coming month.

Avalanche (AVAX)

Avalanche price has fallen to a seven-month low, with prices reaching levels last seen in December 2023. Trading at $28.48 at the time of writing, AVAX is above ‘a key support level of $27.72.

The relative strength index also recorded an increase. RSI is a momentum oscillator used in technical analysis to measure the speed and direction of price movements. It ranges from 0 to 100, with values above 70 indicating overbought conditions and below 30 indicating oversold conditions.

After rebounding from the oversold zone, AVAX could see a close above $31. Once this critical support is reclaimed and the RSI tests the neutral line as support, a bullish result will be confirmed.

Learn more: How to Buy Avalanche (AVAX) and Everything You Need to Know

Avalanche Price Analysis. Source : TradingView

However, we must never neglect the volatility that the market presents. If the breach fails, Avalanche price could fall to $24, losing, which would invalidate the bullish thesis.

Chain link (LINK)

Chainlink price is no different in terms of performance except for one thing. Unlike AVAX, LINK did not lose its critical support but rather bounced back. The $12.9 level was consolidated as a support floor, which gave LINK a chance to recover.

The RSI closing almost in the bullish zone above the neutral line is also a positive. Given Chainlink’s dominance in the Oracle space, a rapid recovery would not be surprising, given its demand.

After a bounce, the target price moves to $16.5 as support over the next month as broader market signals are still slightly bearish.

Learn more: Chainlink (LINK) Price Prediction 2024/2025/2030

Chainlink price analysis. Source : Trading View

However, if the support at $12.9 is broken due to unforeseen reasons, LINK could slide to an eight-month low at $11.9.

Creator (MKR)

Maker, the native token of MakerDAO and Maker Protocol, used to manage the stable part DAInotes an active recovery. The altcoin hit a multi-month low in June, testing $2,200 as support, bouncing off it to change hands at $2,457.

The RSI of this asset is already in the bullish zone and the neutral line is being tested as support. This is a good sign as it suggests that MKR is already ready to rally. If the resistance level at $2,693 is breached, a rise beyond $3,000 to $3,159 is expected before the end of July.

Learn more: Maker (MKR) Price Prediction 2023/2025/2030

Manufacturer price analysis. Source: Trading View

On the other hand, a failed breakout would mean the loss of the recent recovery. Maker price would eventually drop to $2,271, invalidating the bullish outcome.

MANTRA (OM)

MANTRA, a relatively unknown name, is a Layer-1 Security Blockchain RWA. The chain’s claim to fame lies in its ability to offer permissionless blockchain for permissioned applications.

The altcoin recorded a 55% growth in the first two weeks of June, closing below $1.04. However, failing to break above this level, it fell significantly, wiping out all the profits made.

Nevertheless, it managed to hold the critical support of $0.64, unbroken for three and a half months now. This gives enough strength to the OM to rebound since the RSI is almost in the bullish zone.

Learn more: How to Invest in Real World Crypto Assets (RWA)?

MANTRA Price Analysis. Source: Trading View

Losing this support would result in devastating losses for MANTRA investors. OM could fall below $0.50, wiping out half of the profits seen in late March.

Synthetix (SNX)

Synthetix is one of the few altcoins that shows no bullish signs at the moment. Trading at $1.9 at the time of writing, SNX is at an eight-month low. One way or another, keeping the support at $1.8 intact, the altcoin is aiming for a recovery.

Although the RSI has not completely fallen into the oversold zone, it signals a rebound. A sustained downtrend eventually turns into an uptrend, unless it is a bear market, which SNX is not.

Thus, a recovery resulting in Synthetix price closing above $2.7 would lead to a rise above $3.0.

Learn more: Synthetix (SNX) Price Prediction 2024/2025/2030

Synthetix Price Analysis. Source: Trading View

Nonetheless, if investors choose to sell before this happens to offset losses, SNX could fall below $1.8. This would amplify losses and push the RWA altcoin to $1.5.

Disclaimer

In accordance with the Trust Project This price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.

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Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.