Both Peercoin and Namecoin have switched from downtrend to uptrend during the last seven days. The surge in prices on Sunday helped both altcoins take out crucial resistance levels. Since then, however, we’ve seen limited gains for PPC while NMC gave up all of the gains and then some.
Peercoin Breaks Out
Alternative cryptocurrency Peercoin broke above the important $0.429 swing high on Sunday. In our previous article we noted this level as a potential trend changer. In the initial run-up a high of $0.524 was hit. But since then we’ve seen a major retracement down to the initial breakout point at $0.428. We’re currently quoted slightly above this potential support at $0.433 per coin.
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