Zane’s Crypto Chart Spotlight: Peercoin (PPC)!

Welcome back Traders/Investors/Chart Enthusiasts/Everyone!

Per their website, Peercoin is a peer-to-peer proof-of-stake cryptocurrency that seeks to be the most secure cryptocoin at the lowest cost, rewarding all users for strengthening the network by giving them a 1% annual PPC return when minting.

It has been around since 2012 and is picking up momentum now.

What I’m Seeing:

1. In today’s overall market selloff off Peercoin held strong and didn’t hardly retrace at all. That is a great sign to me when looking for relative strength in the market.

2. Recent breakout to new daily pivot highs has begun the uptrend once again after making a higher low too. The increasing volume is promising and it looks to be poised for a possible run up to recent highs of 170K satoshis.

Entries:

The first entry I see is near the lower blue uptrend line that has been respected so well in recent history. This would around the 100K - 105K satoshis zone.

The 80K satoshis area would also be a great level to get a retest entry, but that hinges on the trend not quite being as strong as I’m believing it is. My guess is that it retests the 170K level before it retraces to the 80K level so pick your plan and execute accordingly.

Short Term Targets:

Target area 1: 170K satoshis (.00170000 BTC) at recent highs for ~60% ROI.
Target Area 2: 225K - 260K satoshis (.00225000 BTC - .00260000 BTC) to the Fib projection zone for ~220% ROI.

Longer term targets:

Based on market cap size of 71M in USD, one could expect this market to grow to a $250M market cap. That would result at an estimated growth of 350%.

Downside Expectations:

I see recent support around the 81K satoshi level, which also happens to line up w/ the 38.2% Fib level. I don’t expect to trade down to this level but it could be a great place to enter as well if it does. The blue trendline could be as far as the retracement goes so starting a position there makes sense too to not risk missing the move.
A break down below the 60K satoshis level and stays below would break the current uptrend.

Thank You

I hope you enjoyed this breakdown. Let me know what you think about my review. Which coins do you think are about to move? Comment below!

I look forward to your comments! If you benefited from this please follow and up vote!

Thanks,
Zane

Obligatory Disclaimer:

I can’t guarantee any of these coins will do anything I say. I'm bringing attention to what I believe are great looking charts and hoping for the best but expecting anything.