A widely followed crypto analyst and trader is offering his forecast on a digital token that represents physical and traditional financial assets or Real World Assets (RWA).
The trader pseudonymously known as Altcoin Sherpa tells his 213,700 followers on the social media platform X that crypto assets in the RWA category are still “strong”.
According to Altcoin Sherpa, the Ethereum (ETH)-based native token of a crypto project focused on real-world asset tokenization, Mantra (OM), is likely to fall further before resuming an uptrend based on Fibonacci retracement levels. In technical analysis, Fibonacci retracement levels are used to identify key support and resistance points, and by extension possible reversal points.
“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 Fibonacci levels have shown to be interesting levels but I’d like to see some consolidation for a longer-term bottom on this one.”
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