Real World Assets domain cryptos are gaining attention steadily, and the upcoming September 2024 for MKR, ONDO, and, PENDLE, looks favorable for investment.
Maker(MKR)
MKR is loaded with positive fundamentals like the recent adoption by top crypto asset management Grayscale, which added MKR to its crypto investment list.
Also recently in line it the ongoing g Endgame plan, the Makrer DAO team introduced NewStable and NewGovToken. The NewStabel token is a replacement for Maker DAO’s DAI and the NewGovToken will run parallelly with the same function as MKR.
Maker MKR at the time of writing is at $2,096 with 6.42% weekly growth. The asset turned into correction in the last 24 hours, moving below major moving averages, with RSI at 49.7 indicating a continued Sideway or weak trend.
Maker DAO, MKR Coin is currently under bearish pressure, bears are trying to push lower but a
Strong support at $2024 is found.
The asset in the mid-term will pass through a continued sideways route, but if fundamental support, and price move toward 61.8% Fibonacci, the accumulations will spike above $2200 and $2500.
Ondo (ONDO)
Ondo currently is in a downtrend registering a 30% decline in a month with selling pressure still existing. The altcoin invalidated a bullish rounding bottom pattern and bears pushed it from the resistance of $0.78 to the support at $0.66.
The ONDO price action has driven the asset below 50-day and 200-day Simple Moving Averages (SMAs), indicating a continued bullous trend.
RSI at 35, shows the asset is having more selling pressure and is in moving towards an oversold region.
But, there exists a “Buy the Dip” opportunity. Ondo is the frontrunner in the RWA category and it will bounce back in the short to mid-term.
On the other hand, if the buyers hop in to see this opportunity, Ondo will regain from an oversold and undervalued zone to accumulation.
Having already breached the resistance at $0.78, the crypto holds the potential to hit back. Also, the bull’s eye at $0.8 mark pushed the asset above $1.
Pendle (PENDLE)
With its service to offer tokenization of future yields, Pendle counts on one of the top list of RWA assets. PENDLE is now nearly 53% up from the monthly low of $1.89.
With the ongoing token unlocks for Pendle, this low-cap coin is still holding up to the price levels without being affected much. However, the unlocks are relatively small.
The PENDLE/USDT Chart shows the asset moving in an ascending channel with a price of 20% up in the last 7 days. Trading inside this channel will lead to a recovery resistance of $4.6
The RSI in 53, shows a neutral condition but faces good selling pressure, so the price may correct to lead sideway in the short term, but the MCAD looks bullish with an EMA9 crossing, and the EMA 20, shows a bullish cross.
The applied Chaikin Money Flow (CMF) indicates the flow of money into the assets, is in the upward direction and positive, and shows token growth ahead.
If the foreseen indicators work in favour, PENDLE will see buying pressure to hit $3.90, if invalidated the support stands at $2.
