Date: Fri, Sept 13, 2024, 05:40 AM GMT
The past 7 days has been nothing short of remarkable for real-world asset (RWA) tokens, particularly Quant (QNT) and Mantra (OM). These tokens have surged by 27% and 24% respectively, according to a weekly report released on September 8th. Let’s dive into what’s driving these gains and what might be in store next.
1. Quant (QNT)
Quant is quickly becoming a cornerstone in the RWA ecosystem, bridging traditional finance and blockchain technology. This unique positioning has caught the attention of many investors. Over the past week, Quant made a confirmed upside breakout in the 1-day timeframe, signaling a potential bullish rally. As of now, $QNT is trading at $77.2, with analysts eyeing the next resistance levels at $78.9 and $85.6. This suggests there could still be a 10% upside from its current position.
Technical indicators also support this bullish outlook. The Relative Strength Index (RSI) for QNT stands at 70.28, showing that the token is nearing overbought territory, yet still has room to grow. The RSI-Based Moving Average (MA) is at 49.03, further indicating strong upward momentum.
2. Mantra (OM)
Mantra (OM) is another RWA token making headlines. This Layer 1 blockchain is designed with a strong focus on security and regulatory compliance, similar to Ondo. The $OM token recently broke out of an ascending triangle pattern on September 10th at the $0.9437 level, catapulting it to its current price of $1.15. Looking ahead, OM is targeting the next resistance levels at $1.22 and $1.35, offering a potential 10% upside from its current trading price.
Like Quant, Mantra’s technical indicators are also signaling bullish momentum. The RSI for OM is at 69.49, while the RSI-Based MA sits at 50.88, both suggesting that the token is on a strong upward trajectory.
What’s Next?
Both Quant and Mantra are showing strong technical indicators and have significant upside potential in the coming days. However, investors should keep an eye on these resistance levels, as they could serve as pivotal points for future price action. Given their recent performance, these RWA tokens are definitely ones to watch as we move further into September.
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Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice.
