Are These Altcoins Going To See High Liquidity – Will They Trigger A Good Bull Run?
The recent turmoil in the market has dragged most tokens below critical support levels. Meanwhile, some altcoins like FTM, AI tokens like FET or memecoins like WIF are showing great strength. As the tokens gain momentum, the RWA tokens used for real-world assets are set to undergo significant change due to increasing user attention.
RWA tokens, or real world assets, consist of more than 150 tokens with a capitalization of over $26 billion. In the past 24 hours, the rate has increased by more than 12 percent, triggering other symptoms. According to a recent update, nearly $25 billion of RWA's TVL has been deployed on Redbelly Network's testnet.
While most of the TVL in crypto is backed by speculation, the flow of money into the assets paves the way for the buyer to access them on-chain from the mainnet startup. With this, the top RWA tokens are stuck above the critical support, aiming to regain lost levels.
Hurricane (AVAX)
Avalanche's price has gained significant strength in the first few months of the year, reaching levels close to $60. Since then, the rally has been stuck under a major downtrend, while the recent reversal seems destined to push the price above the resistance.
The MACD is showing a slight increase in its buying pressure while the RSI remains elevated, suggesting that a breakout may be imminent. However, in order to sustain good growth, AVAX needs to recover $30, which could raise the possibility of a recovery to around $40.
Chainlink (LINK)
Chainlink's price has been trading under heavy bearish influence for the past few weeks, which has pulled levels into a critical support zone. Although the bulls have led the rally beyond support, they have yet to prove much.
Chainlink's weekly trading shows that the bulls are gradually gaining strength as the selling pressure is gradually fading as indicated by the MACD. While the super trade that suggests a move above $17 remains bearish, it could confirm a rise above bearish prey. However, the continued consolidation could last for some time, triggering a healthy run at the start of the last quarter.
