Date: Sun, Jan 26, 2025, 02:17 AM GMT
In the cryptocurrency market, the Real World Asset (RWA) narrative is coming up in spotlight. On January 23, BlackRock CEO Larry Fink expressed his optimism that the U.S. Securities and Exchange Commission (SEC) would move quickly to approve the tokenization of bonds and stocks.
During an interview with CNBC, Fink strongly endorsed the potential of digital assets, highlighting their transformative power to democratize investments and reshape traditional financial markets
In light of this, Mantra (OM) and Ondo (ONDO), the top two RWA tokens, are gaining attention with impressive price action.
Source: Coinmarketcap
Mantra (OM)
Mantra, a layer-one blockchain designed for RWA tokenization, has been the talk of the town as its native token, OM, skyrocketed by nearly 40% in the past 24 hours. This surge follows a significant breakout from a bullish pennant pattern after 70 days of consolidation.
Mantra (OM) 1D Chart/Coinsprobe (Source: Tradingview)
After bouncing off the pennant’s support and the 95 Simple Moving Average (SMA) at $3.17, OM successfully broke through the upper resistance of the pennant at $4.03, reaching an all-time high of $5.10. The token is currently trading at $4.90.
If OM manages to clear the immediate resistance zone, highlighted in the red shaded area, the next target lies at the psychological level of $6.00, marking an exciting opportunity for traders.
The MACD (Moving Average Convergence Divergence) has turned bullish, supporting the breakout narrative and indicating the potential for sustained momentum.
Ondo (ONDO)
BlackRock has already partnered with Ondo Finance to leverage their tokenized fund, BUIDL. The native token ONDO is now gearing up for another possible upside move.
Ondo (ONDO) 1D Chart/Coinsprobe (Source: Tradingview)
On January 18, ONDO broke above the descending trendline of a falling wedge pattern, setting a short-term high of $1.55. Following the breakout, the token retested the wedge’s resistance-turned-support and is currently trading at $1.45, eyeing a move beyond its horizontal resistance zone between $1.53 and $1.60.
If ONDO successfully clears this resistance, it could pave the way for the next target of $2.14, marking a strong rally from its current levels.
The MACD is showing a positive crossover, hinting at building momentum that could lead to a breakout.
Conclusion
With BlackRock’s endorsement of tokenized assets and the recent price action in OM and ONDO, these tokens are worth keeping on your radar this week. Both tokens display clear technical setups for potential upside, making them top candidates for RWA token enthusiasts.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions in the cryptocurrency market.
