Date: Wed, Sept 25, 2024, 03:00 PM GMT
The cryptocurrency market has entered a bullish phase, with optimism surrounding a strong Q4 performance. Major altcoins are showing signs of breakouts, particularly in the AI and Layer 1 sectors. Now, focus is shifting to Real World Asset (RWA) tokens, specifically Ondo (ONDO) and Mantra (OM), which are approaching key technical resistance levels, indicating potential rallies.
1) Ondo (ONDO)
Ondo has been a key player in the RWA narrative, aiming to integrate traditional and decentralized finance using public blockchains. ONDO recently found strong support at the $0.58 level, initiating a 35% rally over the past seven days. The token is currently trading at $0.8006, closing in on its critical resistance at $0.8186.
Should ONDO break above the $0.8186 resistance, the next target is $1.05, representing a potential 28% upside from its current price.
2) Mantra (OM)
Mantra, a Layer 1 blockchain designed with a focus on security and compliance, is also showing technical strength. OM has rallied 12.24% over the past week, reaching $1.19, and is forming a similar pattern to ONDO. The token is currently testing a significant resistance level at $1.22.
A breakout above the $1.22 level could trigger further upward movement, with a target of $1.35, which would represent a 12% increase from current levels.
What’s Next?
Both ONDO and OM are exhibiting bullish technical setups, with breakouts looming on the horizon. If they can push past their respective resistance levels, a rally may follow, supported by increased trading volume and positive sentiment across the market. These tokens are well-positioned to benefit from the growing interest in the RWA narrative.
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