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...
NMCUSD has taken her time to make a move upside. This have to be related to fundamentals and lack of descent marketing and updates. But technical analysis suggest the uptrend has started and I expect targets marked with Blue line on the chart to be achieved at the least!!
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.
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...
Today Namecoin has made a big move up, moving from $1.9, up to the current price $2.8 and totaling almost 50% profit for the day against USD.
The question is how far it can go, where it will stop? Based on the Fibonacci applied to the corrective wave down after the descending channel breakout the nearest resistance is located near 327.2% level, which is also...
NMCUSD made a significant low followed by trend reversal pattern ( Diagonal 5 wave impulsive ) which retraced almost 100% . I expect the up trend continue . It's highly possible for wave % to be extended and go to much higher levels, as seen in most cases around Crypto market.