On the 11th of August, Namecoin has reached the low at $0.64 where it has rejected the 327.2% Fibonacci retracement level applied to the corrective wave up after the uptrend trendline breakout.
Price has formed a double bottom at that stage and RSI shows the bullish divergence suggesting either a corrective move upwards or even a trend reversal. Trend reversal...
On the 18th of March, Namecoin found the bottom at $1.37, where it rejected the uptrend trendline. Price consolidated at that area for almost a month, but yet, failed to close below that low.
Following wave up resulted in a 100% growth over the USD and break above the 200 Moving Average. However, NMC/USD corrected down and currently could be forming a double...
Many coins following market flow and direction of both the broader crypto space as well as with global markets. Interesting levels to test on coins in this market cap range during high volatility weeks.
Thumbs up in any form is appreciated. Thank you.
BTC- 324GNJJa3eRHPkHoaoopfvXNrUzKyD6War
LTC- MAkFNQJFYW7Yhx3GgidgwbEwrHD2QRhNAQ
Following the previous ide on Namecoin , it has reached the upside target at $5, corrected back and then went up to $8.4, breaking the resistance. The corrective wave down followed where price corrected back to the previous resistance area near $5.
This could be a potential starting point for the next wave up that could reach $10 mark that is confirmed by two...
In light of bitcoin's continued success, and taking into consideration network strength and trust. I believe it is now safe to assume NMC is a solid buy at these prices
