Avalanche (AVAX)
AVAX, the native coin of the Avalanche layer-1 blockchain, has seen a 20% price increase over the past week, making it one of the important RWA-based tokens to watch in December. As of this writing, the token is trading at $42.25.
AVAX’s Directional Movement Index (DM), assessed on the daily chart, confirms the bullish momentum. As of this writing, the coin’s positive directional indicator (blue) is above its negative directional indicator (red), reflecting the market’s bullish bias.
The DMI indicator determines the strength and direction of a trend. When the positive directional indicator is above the negative directional indicator (red), it signals that the market is in an uptrend, with upward price action outweighing downward pressure. This indicates bullish market conditions and is often a signal for traders to consider buying positions.
If this trend continues, the price of AVAX will rise to $47.02. A successful break of this resistance level will push the price of the coin to $55.10. On the other hand, if the selling activity is stronger, the price of AVAX will fall to $35.66.
Chainlink (LINK)
Leading oracle network Chainlink is backed by the LINK token, which has surged 24% in value over the past seven days, making it another RWA token to watch in December. LINK is currently trading at $17.98, a price it last reached in June.
At the time of writing, LINK is trading above the green line of the Super Trend indicator, confirming an uptrend. This indicator measures the general direction and strength of an asset's price trend.
It appears as a line on the price chart, changing color to reflect the trend direction: red for a downtrend and green for an uptrend. As in the case of LINK, when the Super Trend line appears below the asset’s price, it indicates an uptrend, suggesting that the bullish momentum is likely to continue.
If it holds, LINK’s value will rise to $19.38. A successful break of this level would put LINK on track to reclaim its yearly high of $22.87. However, if market sentiment turns bearish, LINK’s price could fall to $17.22.