Market capitalization: 15M
Capitalization rank: 239
It is very old coin. I traded it in 2013.
The price is near the lower bound of the line of support. Every time when the price exceeds the line of resistance the uptrend begins. We think this time the uptrend...
Namecoin is still on long-term downtrend and always fail for breakout. But we can see that we are still lucky while having a long-term support from beginning of last year up to now. And after saying HELLO to this supporter, NMC will bound with multiple values. But we are nearly at the end of triangle, so we have not enough time to say HELLO several times to this...
Really nice confluence around 110k sats for a target... but it seems unrealistic af tbh. Something like 75k prob more likely.
Don't spot buy it imo. Looks like it's going to get rejected by the cloud and fall back. 20k sat buys would've been a bargain.
I think this chart speaks for itself, long drawn out bear market since turn of the year, ready for a bounce back up to 50% fib retrace of previous highs. Alt season incoming.
Entries at 20000 and 20543, targets between 38000-40000.
Trade with care.
NMCBTC finally took of on what I labelled as wave 3 of the 1st set of 5 waves which will probably get completed at 0.00066 level and pull back and up again to 0.00086. But this rise expected to continue once corrected to higher levels at least 0.001 before mid 2018 .
Namecoin bounced back from the bottom trendline, expect a swing to 29.
Buy orders should be placed on the bottom trendline ( 25+)
Profit goal - 29, 31, 37.
Stop - 23 (if it would break the trend).
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Price bounced from fib 0.236 level and nmc is looking strong , you can go short by buying now and selling for a 10% profit (when it hits the resistance (black arrow)) or wait to see if it will go past it, i will post an update if it do so.