As the intense sell-off eases, cryptocurrencies are looking to stabilize and attempt to recover lost grounds. Among the top cryptos attempting a price recovery are Monero (XMR) and Filecoin (FIL). However, as they face challenges in their recovery, many investors are diverting their attention toward Pomerdoge (POMD) the newest competitor in the market.
Monero (XRM) Price Push for Price Recovery
After a dramatic decline along with the brother crypto market, the Monero price overcame a crucial resistance level. Analysts are confident that this action will put an end to a long-running decline. The XMR price overcame a crucial resistance line, signaling an important victory against the bears.
The price of Monero recovered to $147.50 after dropping to $137 on Friday after massive liquidations. Analysts are hopeful as they assert that the price chart indicates the end of a decline that started in February as the previous resistance turned into strong support.
However, some analysts argue that there are signals of a prolonged cycle for the Monero price. According to the daily chart, the price of XMR sharply dropped last Friday and hit its lowest point since June 20. It later recovered and is currently very close to the $150 psychological level. Monero still trades below the 50-day and 25-day moving averages despite this recovery.
Filecoin Attempts Recovery, Is it Safe To Buy the Dip?
Filecoin battles its own issues, such as a rapid price drop caused by legal actions conducted against large exchanges. FIL, which is a decentralized, blockchain-based cloud storage platform, and the FIL coin is its native token, has suffered through 2022 and the current year hasn’t been great.
The SEC’s lawsuit against Binance and Coinbase exchanges left filecoin shaken causing a 38% drop in Filecoin’s trading price in just five days. The Filecoin price recovered 50% by July 17 but remained down over 5% from pre-crash levels.
According to CryptoPredictions.com, FIL should recover to $5.25 before the end of the year. DigitalCoinPrice was even more optimistic, predicting that the currency will be worth $9 on average by 2023, while CoinPriceForecast said that it would be worth $5.15.
Investors Turn To Pomerdoge (POMD) for Recovery
While Monero and Filecoin continue to push for recovery in the crypto market, Pomerdoge (POMD) shows promise of becoming the new favorite of the crypto market. Pomerdoge (POMD) is a new exciting P2E game that has been gaining popularity among both blockchain gamers and investors.
By combining the meme coin space and play-to-earn, Pomerdoge is becoming a force to be reckoned with in the market. This innovative play-to-earn game stands out as a top performer in the challenging cryptocurrency market, has attracted new investors, and is supported by crypto experts.
The ecosystem has its own NFT marketplace – the Pomerplace. In this marketplace, players can buy, sell, and trade the items they have collected throughout the game. This adds more chances to earn to the already present quests, rewards, and giveaways.
Pomerdoge has huge bullish potential as a result of combining P2E with social networks and its unique model. Pomerdoge, which is still in the presale phase, offers its token at $0.009. However, crypto experts have predicted a rally to the $0.15 level before 2023 runs out.
More about Pomerdoge Presale Today:
Telegram Community: https://t.me/pomerdoge