Two brothers and their journey to the moon. PPC and NMC BreakoutPeercoin and Namecoin have a significant price correlation due to their highest volume being traded on the same exchange, BTCe. Namecoin's recent trading volume increase on BTCe and Poloniex signals the start of a BTCe alt coin rally. There is plenty of room for the average directional index (ADX) to continue upwards with the +DI line following it's lead. With the ADX above 25 and rising, one can see a strong positive trend forming. The 20 RSI bottomed around January 1st and has breached through the 50 line and climbs upwards.
NMC
Reversal waiting for ignition?We have two 11 months views.
* At your left, a chartist analyze with:
- 2 crosses between moving average. One is a kiss of death (bye bye) and one, lately, might be bullish.
- Remarkable result where price landed over both moving average.
- An ascending triangle which gives good odds to break upward.
- A strong resistance under 0.0031
- Volume rising a bit.
* At your right I've put an ichimoku setup to weight the possible reversal we are witnessing.
To sum it up: if NMC finally achieve to go over 0.0031, it could be a great kick for a *new* trend.
Knowing this, if you care to buy NMC, please remember: this altcoin (and it's applicable to every others altcoins) are very risky investment.
I recommand to buy NMC on www.BTC-e.com
NMCBTC Rally ComparisionI took lowstrife's idea for LTCBTC () and applied it to NMCBTC. RSI is showing bullish divergence and RMI is in a similar lower area to where it was during the last large rally.
Why is Peercoin tracking below Namecoin price?I've seen this question come up a lot since Bitcoin begun rising.
These two altcoins have historically followed each other very closely in terms of price until recently. As Bitcoin rises and altcoin prices have fallen, we have seen Peercoin (PPC) drop below Namecoin (NMC) significantly.
I believe the explanation for this is quite simple: there are more Peercoins in the market than Namecoins, therefore there are more potential sellers.
According to coinmarketcap.com the current PPC supply sits at around 21 million. The same site states the current available amount of Namecoins is around 9 million.
Namecoin Sitting on Long Term SupportNamecoin (NMC) is currently sitting on long term support. As it takes more and more money to move Bitcoin, the alternative cryptocurrencies will start to pick up. It's a no brainer to throw a few dollars onto this at the bottom with small risk (stop under $2-$2.1) or wait for the break out at around $2.8-$3. It has already sailed through the long term resistance (cyan solid line).
NMC is Bitcoin's younger brother and was the second cryptocurrency to be launched under Satoshi Nakamoto's direction.
