The decline for cryptocurrencies continues. In the last seven days, Peercoin bounced near the important $0.465 support while Namecoin fell about 8 percent. Big brother bitcoin also continues to drift lower, down close to $15 dollars since a high of $289.97 reached last week.
Peercoin Bounces at Important Support
Since our last update on Peercoin, the crypto bounced near the important $0.465 mark. A low of $0.474 was reached on Saturday, August 1st. The next day PPC/USD gave it another shot, this time trading to a low of $0.476. The subsequent rebound saw prices rally to $0.526 on Monday, only to give up most of the gains in today’s trading session. We are currently quoted at $0.492 dollars per coin.
The bounce adds more validity to this support level. A decisive break below $0.46 would start a new PPC downtrend. More support below this level can be found at $0.376, followed by the round $0.30 mark.
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