3 Promising RWA Tokens with Growth Potential to Watch in July

July brings new opportunities in the crypto world with tokens rooted in tangible assets. These digital coins are gaining traction and show promise for growth. Dive into the details to uncover which assets are likely to surge this month. Discover the potential game-changers in the cryptocurrency landscape poised for a significant rise. Avalanche (AVAX) Faces Significant Downturn with Pullbacks Avalanche has experienced a pronounced decline over recent periods, with a nearly 14% drop within one month and a sharp 52.48% fall over the last six months. Price action in these periods showcased persistent bearish pressure while traders navigated a fluctuating landscape of highs and lows. The coin’s values exhibited broad swings that ultimately led to significant drawdowns in its trading range. Sustained downward movement over the half-year reflects market sentiment committed to lower valuations and heightened caution among holders. The current trading picture places AVAX between $14.82 and $21.92, with immediate resistance identified at $25.89 and support at $11.69. A second layer of resistance at $32.99 and support around $4.59 reinforces key levels. Technical indicators, including the Awesome Oscillator at -0.664 and an RSI near 44.87, suggest bears retain control. The overall recommendation trends negative, and trading ideas center on potential rebounds from the support zone or shorting near resistance, acknowledging current levels offer entry points for disciplined trades amid prevailing market hesitancy. Observing VeChain’s Recent Price Dynamics VeChain has faced a short-term pullback of approximately 11.56% in the past month, while a significant decline of nearly 54.97% occurred over the last six months. Price action has shown volatility within a tight range recently, while the longer-term trend has been distinctly bearish. With modest weekly gains of 0.88%, the upward movement has been insufficient to counter the prevailing downtrends. This performance reflects cautious market sentiment, where previous sell-offs continue to influence VeChain’s momentum and overall market outlook. Currently, VeChain trades between $0.0173 and $0.0260, with immediate support at $0.0132 and a further level at $0.0044. Resistance is identified at $0.0306 and additional resistance occurs at $0.0393. Indicators show an RSI close to 46, indicating bearish pressure without a strong trend confirmation. Traders might consider a range-bound strategy, looking for potential rebounds at support levels or breakouts above resistance as signals for market shifts. Current price levels offer opportunities for strategic trading as bulls seek to regain control. Algorand Market Analysis: Past Movement and Price Zones Algorand experienced a downward trajectory recently, with a weekly decline of about 6.36% and a monthly drop around 8.65%. Over the past six months, the asset has faced a significant decline of approximately 51.55%, indicating a strong bearish trend. Price movements during this period have fluctuated within a range of $0.16 to $0.21. This behavior aligns with a general retracement in its market dynamics, as shown by various technical indicators. Current market conditions reveal a trading range defined by support at $0.13 and resistance at $0.24, with secondary levels at $0.30 and $0.07. Bears dominate the market, as momentum and oscillator readings remain negative. The overall trend lacks a clear rally pattern. Traders might explore short-term strategies within the $0.13 to $0.24 range, using these levels for potential scalping opportunities. A breakout beyond these zones could indicate a shift in market sentiment, while managing risk between these critical thresholds is essential until a clearer trend emerges. Conclusion AVAX , VET , and ALGO show strong growth potential for July. Each of these tokens brings unique strengths. AVAX focuses on high-speed transactions. VET aims to enhance supply chain management. ALGO drives efficient and secure transactions. Watching these tokens could be rewarding as they continue to develop and attract attention. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Bitzo