The cryptocurrency market is in constant motion, as trends and developments can significantly impact the trajectories of projects. In the wake of new developments, Filecoin (FIL) and Fantom (FTM) are experiencing immense pressure. On the flip side, a unique contender, Pomerdoge (POMD), is attracting the attention of investors seeking a potential recovery.
Click Here To Find Out More About The Pomerdoge (POMD) Presale
Bearish Pressure Mounts As Filecoin (FIL) Approaches $4 Support
Being one of the most unique projects in the crypto space has not proven enough to save Filecoin (FIL) from bearish momentum. Since February, the price of Filecoin has consistently been trending downward.
Since it peaked above $8.6 in mid-Febraury, the price of FIL has plunged by more than 50%. At the time of this writing, Filecoin trades at $4.09, down by 1.2% in the last 24 hours. With the growing bearish pressure, investors are concerned about the $4.00 support level.
Things could get worse if Filecoin breaks under this psychological level. If the price of FIL drops below this level, a freefall of $3.5 could ensue. This means that Filecoin bulls would need to increase their pressure to prevent further bearish momentum.
Fantom (FTM) Retest Yearly Lows As Bearish Pressure Mounts
Fantom (FTM), a project known for its unique solution to blockchain scalability and interoperability has been the subject of bearish pressure. Since its meteoric rise in January, the price of FTM has been steadily trending downwards.
In February, Fantom set a yearly high at $0.65 on the back of a 320% price rally. However, Fantom has failed to replicate that bullish form. Yesterday, the price of Fantom fell as low as $0.23 – the lowest the token has traded all year.
At the time of this writing, Fantom still trades below the 50 and 200-day EMA which confirms a more possible downtrend. If FTM fails at the $0.23 support level, the price of the token could tumble to as low as $0.200 before finding another support.
Investors Turn To Pomerdoge (POMD) Ahead of Price Rally
While Fantom and Filecoin continue to grapple with bearish pressure, Pomerdoge (POMD) stands out as a top performer. Amidst the bearish crypto market, the price of Pomerdoge increased to set a new high at $0.008 per token.
POMERDOGE PRICE INCREASING!
What can we say #pomercrew! We started presale just over two weeks ago and have already raised almost $750,000!
The price will increase to $0.009 on Thursday the 17th of August at 19:00 UTC
In the coming days (a week or two) we will be showing you… pic.twitter.com/uCvahatIgN
— Pomerdoge (@pomerdoge) August 13, 2023
This new play-to-earn game has been amassing new investors as crypto experts back the project to become a dominant force in the industry. Merging P2E with social infrastructure and the meme coin space has earned Pomerdoge massive bullish potential.
Further collaborations with Trust Wallet, Uniswap, MetaMask, and Amazon Web Service further increase the potential of Pomerdoge. With this support, crypto experts have projected that the token could reach highs of $0.20 before the year runs out.
Pomerdoge, still in its presale phase, holds promise for early investors. These early investors are also entitled to a share of the platform’s generated revenue, based on their investment stakes – further increasing the appeal of Pomerdoge.
Find out more about the Pomerdoge (POMD) Presale Today:
Website: https://pomerdoge.com/
Telegram Community: https://t.me/pomerdoge
