Bitcoin’s inability to break out of its range had a stabilizing influence on altcoins. Both Peercoin and Namecoin have formed new congestion areas that may (in the future) become staging grounds for a breakout either up or down. Namecoin is trading between $0.44 and $0.50 while PPC has been locked between $0.30 and $0.375 per coin.
Peercoin Follows Big Brother
Alternative cryptocurrency Peercoin followed bitcoin first higher then lower as both cryptos experiences two false breakouts. This led to the establishment of the new range boundaries at $0.30 on the bottom and $0.375 on the top.
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