PENDLE, AVAX, VET, ONDO, and LINK are the RWA altcoins to watch in October.
Pendle’s native token has shown strong upward momentum, gaining 27% over the past week.
AVAX is close to breaking out at $28.66, supported by the BoP indicator with a target price of $35.67.
As activity in the altcoin market slowly picks up, tokenized real-world assets (RWA) deserve your attention as a trader.
For those eager to diversify their portfolio, this analysis will highlight some RWA-based altcoins that may be able to bring you gains in October.
PENDLE
PENDLE, the utility token of the Pendle protocol, has seen a sharp rise in value. In the past week, PENDLE has risen by 27%, becoming one of the key real world asset (RWA) altcoins to watch closely in October. Currently trading at $4.34, PENDLE maintains a strong upward trend, trading above the rising trend line in recent weeks.
This trendline indicates that the market demand is continuous and the upward momentum is extremely strong. If PENDLE can continue to stay above this trendline, its main target in the coming weeks will be the key resistance level of $6.31. However, if the selling pressure increases, the price may fall below the trendline and even fall to $3.16.
It is also important to consider the ongoing token unlocking. Pendle Protocol will begin a new token unlocking process on October 2, during which 31,210 PENDLE tokens will be unlocked every day for seven consecutive days.
While the scale of this gradual release is not large enough to trigger a significant drop in price, it does increase the circulating supply, which may put slight downward pressure on the value of the token.
Avalanche (AVAX)
AVAX, the native token of layer 1 blockchain Avalanche, has surged 8% in value over the past week and is trading at $27.94 at the time of writing. On its daily chart, AVAX is approaching the important resistance level of $28.66 that it has held since July.
The balance of power (BoP), a measure of the strength of buyers relative to sellers, is rising, suggesting that a breakout of this level may be imminent. At press time, AVAX’s BoP is 0.64, meaning that buyers currently have more power in the market. If this buying pressure continues, AVAX could surge to $55.07, which is undoubtedly a considerable price target.
However, if the attempt to break out of the $28.66 resistance fails, a drop to $17.33 is likely. Once the buying momentum fades, it could push AVAX back to lower supports.
VeChain (VET)
VeChain has become a pioneer in real-world enterprise applications, backed by its VET token. The token’s value has recently surged, making it one of the key real-world assets (RWAs) to keep a close eye on. VET is currently trading at $0.02, up 14% over the past week, showing the potential for further gains.
Looking at its daily chart, VET has recently managed to break out of a descending triangle, a bullish technical pattern that signals an uptrend. If the coin can successfully retest the breakout line, it will confirm the continuation of the uptrend, making it possible for VET to reach $0.04 in the coming weeks.
However, if a retest of the breakout line fails, VeChain’s VET token could lose upside momentum and break below the support line of the descending triangle. In such a scenario, the price of VET could drop to $0.01.
ONDO
ONDO is currently priced at $0.78, having gained 24% in the past week. The continued growth in demand for the altcoin is reflected in its rising relative strength index (RSI), which tracks market conditions to determine whether an asset is overbought or oversold. At press time, ONDO’s RSI is 66.87, which indicates strong buying activity and suggests that the upward momentum is likely to continue.
If the current uptrend continues, the price of ONDO may reach $0.87 in the short term. If the uptrend continues further, stronger momentum may push the price to $1.09. However, once the selling pressure increases, the price of ONDO may fall and may even fall to $0.50.
Chainlink（LINK）
In addition to being influenced by broader market sentiment, Chainlink (LINK) prices have risen 10% over the past week, largely due to increased user activity on the network. On-chain data shows that the number of unique active addresses trading LINK has increased by 13% over the past seven days.
Additionally, demand for altcoins has grown dramatically, with the number of new addresses trading LINK surging 29% over the same period. If this strong demand can be sustained, LINK could extend its rally to $15.47.
However, if the pace of accumulation slows, a pullback to $11.24 is possible. Traders should watch for signs that demand is continuing or that accumulation activity may be weakening.
