Failed Breakdown for Namecoin, Peercoin

Namecoin and Peercoin continue to be dragged down/up along with BTC prices. The two cryptos crashed during the May 26th/27th bitcoin dumping but has since recovered nicely as the big brother made new highs.

Namecoin Prices Remain Range-bound

Namecoin prices remain range-bound after a failed breakout to the downside. The correlation between BTC/USD and NMC/USD is still high. We can expect Namecoin to continue being the ‘victim’ of bitcoin’s fortunes. If you already have a bitcoin position keep in mind that you may be doubling your exposure with a NMC trade in the same direction. Imgur Read more: http://ift.tt/2r0tX5h

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