- ONDO’s 21.95% surge highlights strong bullish momentum in the RWA token market.
- Chainlink (LINK) shows solid uptrend potential, eyeing resistance at $17.50-$18.00.
- HBAR struggles with declining volume, while AVAX maintains a bullish trajectory.
The real-world asset (RWA) token market is heating up, with ONDO leading the charge. As ONDO surges in value, investors are questioning whether any RWA token has the potential to surpass it.
Ondo (ONDO) has emerged as a dominant player. Its recent surge in price, climbing to $1.18 with a 21.95% increase in 24 hours, has captured significant attention. With a market cap of $3.74 billion and a trading volume of $448.48 million, ONDO is showcasing strong bullish momentum.
ONDO’s Market Performance and Growth Potential
The price trajectory of ONDO indicates a robust uptrend, having moved from $0.98 to $1.18. The consistent formation of higher highs and higher lows confirms a strong market structure. The 32.76% rise in trading volume signals increased investor confidence.
Currently, key support levels for ONDO are positioned at $1.05 and $0.98-$1.00, while resistance sits at $1.20 and $1.25. If the price maintains stability above $1.15, further gains could push it past $1.25. Conversely, a drop below $1.10 may lead to corrections toward $1.05 or even $1.00.
Potential Competitors in the RWA Token Space
While ONDO dominates, other tokens in the RWA and broader crypto space are gaining traction. Chainlink (LINK), Hedera (HBAR), Avalanche (AVAX), and MANTRA (OM) have exhibited noteworthy price actions.
Chainlink (LINK): A Strong Contender?
Chainlink has been on a solid uptrend, with its price surging from $15.02 to $17.26, marking a 14.95% daily increase. A 43.41% rise in trading volume signals heightened investor interest.
The next resistance levels stand at $17.50-$17.70 and $18.00. If LINK maintains momentum, it could surpass these levels. However, a pullback to $16.00 is possible if buying pressure weakens.
Hedera (HBAR): Facing Market Uncertainty
HBAR, in contrast, is experiencing a downtrend, with a 1.49% daily decline. The price currently sits at $0.2477, struggling to hold above $0.2450. The trading volume drop of 36.41% suggests declining interest.
If HBAR fails to sustain support at $0.2450, it may test $0.2400. A recovery toward $0.2500+ is possible but uncertain due to waning momentum.
Avalanche (AVAX): A Bullish Challenger
AVAX has shown strong bullish movement, increasing by 9.93% in a day to $22.01. With a market cap surge of 9.93% and steady buying activity, AVAX is poised for further gains.
If resistance at $22.50 is broken, the price could reach $23.00+. Support at $21.00-$21.20 will be crucial in case of a pullback.
MANTRA (OM): Struggling for Stability
MANTRA (OM) is hovering near $7.06, showing slight bearish tendencies with a 0.48% dip. Its trading volume has declined by 18.20%, indicating a reduction in market interest.
While support at $7.00 and $6.90 provides stability, breaking $7.15 could push OM toward $7.30. However, a drop below $7.00 might lead to further losses.
