Top 5 RWA Tokens Near Breakout Levels: Is Now the Time to Buy?

The cryptocurrency market continues its downward trend after the late 2024 rally. Bitcoin (BTC) has dropped to a four-month low, briefly falling below $77,000 on March 11. Meanwhile, Ethereum (ETH) has declined over 13% in the past week, sliding from its December high of $4,000 to its current level of $1,875. This has put significant pressure on major altcoins.

Among Real World Asset (RWA) tokens, five major projects—including Chainlink (LINK) and Ondo (ONDO)—have reached critical support levels. While Mantra (OM) remains strong and is trading in the green, Algorand (ALGO) has slipped by 2%, and Clearpool (CPOOL) has surged 9%.

Here’s a closer look at their price action.

1. Mantra (OM)

OM’s daily chart shows a small dip of 0.38%, testing the 50-day Moving Average (50MA) support at $6.2673. It also touched the ascending trendline, which usually acts as a strong support level. However, OM has shown resilience, trading higher at $6.2.

Looking at past price movements, previous tests of the 50MA (marked in purple circles) have led to strong rebounds and rallies. If this pattern continues, OM could retest its all-time high (ATH) of $9.15, followed by a possible consolidation phase.

2. Chainlink (LINK)

LINK’s price movement shows a broadening wedge pattern, where two trendlines are diverging. The upper trendline connects higher highs, while the lower one connects lower lows—often a setup for a strong price reversal.

For LINK, this wedge has been forming since September 2022, with the lower boundary extending from June 2023. The price is now approaching the lower support of this megaphone formation, indicating a potential rebound.

If a bounce occurs, the next resistance to watch is $30.81—the highest price level in 2024. This target is 135% above the current price and aligns with the 50% Fibonacci Retracement level.

3. Ondo (ONDO)

ONDO’s weekly price chart shows an ascending spreading wedge pattern. The continuing correction started with its rejection of the upper trendline at $2.14 (the December 16 high), which set off a continuous fall toward the lower support trendline.

With today’s decline, ONDO price challenged the lower trendline support at $0.72 but is currently trading above $0.83, showing some resilience. If ONDO follows its historical price movement within the pattern, a major rebound toward the upper trendline of $3.03 is possible.

4. Algorand (ALGO)

Despite going through a bear market and failing to establish a decent rally since it, the Algorand price chart has a good historical correlation with major support and resistance levels. The purple circles indicate critical support retests, in each event the price bounced after reaching these levels. The orange circles are resistance levels. At present, ALGO price is at a crucial support level similar to previous cycles, which can be held and bounced.

Historically, this support has served as a major accumulation area and could result in a bounce to $0.60.

5. Clearpool (CPOOL)

CPOOL’s chart shows a rising wedge pattern—typically a bearish signal. The price has been moving between two upward trendlines, making higher highs and lower lows.

Historically, CPOOL saw a major rally after launching, reaching a peak of $2.57 before entering a prolonged downtrend. Between 2022 and 2023, the price consolidated and formed a base, leading to a slow recovery in 2024.

Currently, CPOOL is testing the lower support of its wedge at $0.104. The Relative Strength Index (RSI) of 32.43 suggests it is nearing oversold conditions, increasing the chance of a bounce. The Commodity Channel Index (CCI) of -148.79 also signals extreme downward momentum, but similar past conditions have led to price reversals. If CPOOL holds above the $0.09 support level, a rally toward $0.31 is possible.

A Good Buying Opportunity?

The Real World Asset (RWA) sector is growing rapidly, gaining more attention across social media. As of March 9, LINK, ONDO, and ALGO were among the most discussed RWA projects, according to Phoenix Group data.

Currently, the RWA market has a total capitalization of $30.13 billion, accounting for 1.10% of the total crypto market cap. Tokenized private credit leads the sector with $11.9 billion (69% of the market), while tokenized U.S. Treasury debt has also gained traction, reaching $3.5 billion.

With these five cryptocurrencies hovering near key support levels—historically strong zones for price recoveries—this could be a good time for traders to accumulate during the dip. However, always DYOR (Do Your Own Research) before entering the market.