PPC
Looking at our old useless friend PPC PeercoinI really like peercoin, PPCBTC for different reasons (bagholding is one), heres a chart, half inspired by Zar Nagar and Dj Thisle 2 who introduced me to the wyckoff model (this case in the chart doesnt really apply but its similar). He has a trading telegram and learn to trade forum on coinstreetnews - google it, its like .3 btc and will help you if you dont know how to trade, helped me and others.
This is the weekly, I also looked at daily, I think from this the bottom may be here soon. If the trendline breaks up... Oh boy.
Long position Opportunity with OBV Profile Trending UpwardsLong position opportunity with BTCE:PPCBTC also with OBV Profile Trending Upwards
Breakout approximately around beginning of 2017.
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.
Peercoin (PPC): Almost Time to Decide PPC is at a major market pivot point. It has been moving sideways for so long that it has crossed over most sloping downtrend resistance lines. However it keeps getting rejected at a horizontal price level. This level was once support but is now resistance. The MACD has not given away all it’s momentum yet, but if the price drops below support in this very tight range the MACD will shoot down and become negative thus turning a hopeful picture into red waterfalls.
Chart is well labeled with resistance, support, long, and short zones of interest.
Full article with NMC chart. Basically the same idea. Both ranging and looking to find support as multiple supports are converging. If it/they fail it is a quick push down altcoin style. www.coinstreetnews.com
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.
PPC Long, example of bullish divergenceexample of bullish divergence, double bullish bottom now forming, before good indicator that it would break out and turns out it did, now would be a good time to enter trade for a repeat?