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

The crypto market has seen different types of assets take the limelight every now and then, and the latest addition to this list is Real World Assets (RWA). Joining the artificial intelligence (AI) altcoins in terms of popularity and demand, these tokens are a different breed altogether.

Real assets refer to tangible items with inherent value, such as real estate, commodities and physical goods. These assets are increasingly being subscribed for easier trading and investing in digital markets.

The protocols that enable this operation have their own tokens that noted the question; however, choosing the most optimal token for investment is still difficult.

That’s why BeInCrypto has compiled some of the biggest RWA altcoins to watch in the coming month.

Avalanche (AVAX)

Avalanche’s price fell to a seven-month low, with prices last reaching levels 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 notes an increase. The RSI is a momentum oscillator used in technical analysis to measure the speed and change of price movements. It ranges from 0 to 100, with values ​​above 70 indicating overbought conditions and below 30 indicating oversold conditions.

If we bounce back from the oversold zone, AVAX could be looking at a close above $31. Once this critical support is regained and RSI tests the neutral line as support, a bullish outcome will be confirmed.

Read more: How to buy Avalanche (AVAX) and everything you need to know

Nevertheless, one should never reject the volatility that the market offers. If the breach fails, Avalanche’s price could fall to $24 and lose, invalidating the bullish thesis.

chain link (LINK)

Chainlink’s price is no different in terms of performance, except for one thing. Unlike AVAX, LINK did not lose its critical support, but instead regained some of it. The $12.9 level was pegged as a support floor, giving LINK a chance of recovery.

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

After a pullback, the target price $16.5 turns into support over the next month, as the broader market directions are still slightly bearish.

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

However, if the $12.9 support is broken due to unexpected reasons, LINK could fall to an eight-month low of $11.9.

Maker (MKR)

Maker, the native token of the MakerDAO and Maker Protocol, which is used to manage the stablecoin DAI, marks active recovery. The altcoin hit a multi-month low in June, testing $2,200 as a support level, and rebounded from changing hands at $2,457.

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

Read more: Maker (MKR) Price Forecast 2023/2025/2030

On the other hand, a failed breach would mean losing the recent recovery. Maker’s price will eventually drop to $2,271, invalidating the bullish outcome.

MANTRA (OM)

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

The altcoin registered 55% growth in the first two weeks of June, closing below $1.04. However, as it could not surpass this level, it fell significantly, wiping out all the gains made.

Nevertheless, it managed to maintain the critical support of $0.64, which has been uninterrupted for three and a half months now. This gives OM enough strength to bounce back as the RSI is almost in the bullish zone.

Read more: How to invest in real world crypto-assets (RWA)?

Losing this support would mean devastating losses for MANTRA’s investors. OM could drop below $0.50, wiping out half of the gains recorded at the end of March.

Synthetix (SNX)

Synthetix is ​​one of the only few altcoins that is not currently showing any bullish sign. Changing hands at $1.9 at the time of writing, SNX is at an eight-month low. Somehow, keeping the support at $1.8 intact, the altcoin is aiming for recovery.

While the RSI hasn’t quite dipped into the oversold zone, it does indicate a bounce back. Sustained bearishness eventually turns into bullishness unless it is a bear market, which is not the case with SNX.

Thus, a recovery that results in Synthetix’s price closing above $2.7 will lead to a rise above $3.0.

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

Nevertheless, if investors decide to sell before it rushes to offset losses, SNX could fall below $1.8. This will reinforce losses and push the RWA altcoin to $1.5.