After the flash-crash a few weeks ago, Peercoin and Namecoin are back to their boring selves. Namecoin is stuck in a tight range between 27 and 32 cents per coin. Meanwhile, Peercoin bears managed to make some progress in the past two weeks but no key levels have been broken yet.
Namecoin Stuck in Range
The alternative cryptocurrency Namecoin is stuck in a relatively small range between $0.277 and $0.32 per coin. Neither the bulls nor the bears have the upper hand here.
On the upside, we briefly made some gains above the 30-31 cents resistance area. But prices couldn’t make a decisive breakout. We’re now looking at the new high at $0.32 as a potential trend starter. A clean break above could start a new NMC rally. Higher up we have a resistance at the $0.346 swing high followed by $0.371 and the 40 cents round number.
On the downside, a decisive breakdown below 27 cents could usher in a new downtrend. More support levels below here can be found at the $0.25, $0.20 and $0.15 round figures. Trends on the monthly and weekly charts are pointing down.
Peercoin Down by 15 Percent
Peercoin prices are down by 15 percent compared to those two weeks ago. We are currently quoted at $0.306 per coin. While this is a large move in percentage terms, no crucial support levels have been broken yet and PPC/USD remains in a neutral mode in short-term charts.
Read More https://blog.fxopen.com/peecoin-down-namecoin-range-bound/
