Monero Price Reaches New Low, Is XMR Done? Pomerdoge Presale Skyrockets With Over 70M Tokens Sold
Monero (XMR), the leading privacy-focused crypto, has been grappling with a price descent to new price lows, raising doubts about its ongoing journey. In contrast, Pomerdoge (POMD) is outperforming early predictions for its presale. In the last couple of weeks, more than 70 million POMD tokens have been sold, making it one of the fastest-selling presale projects.
One of the leading cryptos focused on privacy, Monero (XMR) has been trading on a descending trendline in the last three weeks. Since getting rejected at the $170 resistance, the price of Monero has been dropping since. At the time of this writing, Monero trades at $157.33 after dropping to a new monthly low of $154.
The declining price of XMR can be linked to a lack of activity around Monero. In addition, the price of the token has been relatively less volatile than the rest of the crypto market. Monero currently has a support level of around $153.00 and resistance just above the $155.92 level.
Going forward, the privacy-centric crypto would need significant momentum to push its price upwards. If there is no action from the bulls, the price of Monero could fall even further. If there is no break above the $155.92 resistance, then a return to $153 support.
A break below this level will see the price of XMR drop as low as $150 in the coming days. Against the backdrop of the crypto market, the Pomerdoge (POMD) presale has emerged as a beacon of fervor. In the last couple of weeks, an astounding 70 million plus Pomerdoge tokens have been sold as investors have been stacking up tokens.
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