Altcoin Sherpa says crypto assets representing Real World Assets (RWA altcoin) are still “strong” stated.
$OM: RWA is still strong and ONDO was the recent leader for the entire market. I think that OM will probably cool just a bit and find some bottom either at the $0.60 area or the $0.50 area. These fibs have shown to be interesting levels but I’d like to see some consolidation for… pic.twitter.com/jPHhNk8MPK
NEWS CONTINUES BELOW— Altcoin Sherpa (@AltcoinSherpa) April 3, 2024
Ethereum (ETH)-based native token of a crypto project focused on real-world asset tokenization, according to Altcoin Sherpa mantra (OM) looks set to continue falling before resuming an uptrend based on Fibonacci retracement levels. As reported by Koinfinans.com, Fibonacci retracement levels are used in technical analysis to identify key support and resistance points and therefore potential reversal points.
“I think OM will probably cool down a bit and find a bottom in the $0.60 or $0.50 areas. These Fibonacci levels appear as very interesting points; “But I would like to see some consolidation at this level for a longer-term bottom.”
OM is trading at $0.674 at the time of writing, representing an increase of approximately 1.054% from the January 1 opening price of $0.0584.
BitcoinTurning to (BTC), Altcoin Sherpa twice noted that the 200 exponential moving average (EMA) on the four-hour timeframe is a reliable support zone for BTC price.
“You can keep things really simple and just follow the 200 EMA on the four-hour chart. The last time this level was marked (not recently) was early February. “In my view, this remains a good buying opportunity for now.”
