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 at the very same support of $1.37, that yesterday has been rejected cleanly.
It is also important to mention that oscillator formed a on a , following by the downtrend breakout of the indicator. This could be the bottom for the Namecoin, while beginning of the growth is just around the corner. NMC could reach $3 area in a relatively short period of time, where the first resistance is based. But the final upside target could be as high as $6.74 (a 400% growth), that is confirmed by two levels.
The downtrend could only continue after the daily break and close below the key support at $1.37. While the price is above, it is more likely that the trend will start reversing to the upside.