RWA Tokens Rise Amid Market Turmoil as Real-World Assets Gain Traction

The recent turmoil within the market has dragged the majority of the tokens below the crucial support levels. Meanwhile, some of the altcoins like FTM

Amid the recent market downturn, several tokens have displayed resilience, including FTM among altcoins, FET in the AI sector and WIF in the memecoin domain. Interestingly, RWA tokens, designed to represent real-world assets, have also attracted attention.

Comprising over 150 tokens, RWA assets boast a collective market cap exceeding $26 billion. Notably, trading volume has surged by over 12% in the past 24 hours, impacting other tokens.

According to recent developments, nearly $25 billion of RWA's TVL has been integrated into the Redbelly Network's testnet.

With a majority of crypto TVL driven by speculation, the introduction of cash flow into these assets will allow the buy side to access them on-chain following the mainnet launch.

Top RWA tokens have maintained positions above critical support levels, aiming to regain lost ground.

Avalanche (AVAX) price gathered substantial momentum in the early months of 2023, pushing levels close to $60. Subsequently, the rally encountered resistance at a descending trendline.

However, recent rebound attempts indicate a possibility of prices breaking above the resistance.

Relative Strength Index (RSI) is high, and Moving Average Convergence Divergence (MACD) shows a slight increase in buying pressure, suggesting a breakout may be imminent.

To sustain a strong upswing, AVAX price needs to reclaim $30, which could open up possibilities for recovering the range around $40.

Chainlink (LINK) price has been under significant bearish influence for several weeks, dragging levels close to a crucial support zone.

Despite efforts by bulls to keep the rally above the support, a bullish confirmation is still pending.

Analyzing Chainlink's weekly trade set-up, bulls appear to be slowly gaining strength as selling pressure gradually eases, as indicated by the MACD.

While the supertrend remains bearish, a rise beyond $17 could validate a breakout from the bearish captivity.

However, ongoing consolidation may continue for some time, potentially setting the stage for a healthy rally at the start of the last quarter.