As the bulls begin their downhill march with Bitcoin taking the altcoin market with it, NAV Coin makes a leap to a stunning $1.17 in the last hour. So far sustaining 60% of value since the 83% jump, as the currency with the largest daily increase in the top 100.
Today the project announced their weekly report today, including updates such as a community fund opening and three new team members (1 full time, 2 part-time).
It's however hard to see how this would warrant over 80% increase in value, especially with the current turmoil in the altcoin market with some people believing a small crash might be on the horizon.
Regardless, this currently places the privacy based coin as the 79th largest after slipping out of the top 100 in recent days, with a market cap of now $64m. It's been 3 weeks since NAV Coin has been over $1, since reaching an all time high of $2, but most notably it has for now demolished the downward pattern that has dominated since that all time high.
With a long way to go it'll likely try to raise current support levels from around the $0.6 mark to previous mid September attempts around $0.75-$0.8. For anyone who took that risk when it was trading at these levels might want to walk away with a 20-25% profit, rather than hold in the hope for more gain.
As an investment that not so long ago quadrupled in value from the lows of $0.5 to $2 within a few days, there is always potential for increased growth to challenge the old resistance levels around $1.60. At the same time it seems equally as likely to find support around $0.75 as a more realistic target.