PPC/USD Technical Analysis – 25th April 2014

Peercoin falls down to 2.04 as the bears take over, in line with the technical I spoke about last time. Price seems to have stalled at this point for now, we may see some ranging over the weekend.

I posted the chart below in my previous analysis (click to expand):

Where I mentioned that I was,

"Very confident that in the short term. price is going to touch 38.2% again (at 2.5), before bouncing back up some pips. For the long term however, we could see the bears take control once again."

So the bears definitely took control across many crypto coins, aided by The People’s Bank of China's (PBOC) fresh resolve to prevent future interactions and dealings with Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchanges. Price smashed through 50%, falling down to 61.8% at 2.041, as can be seen below:

It's clear to me that price is going to continue to range between 50% and 61.8% for the short term at least, since we have some conflicting technicals, such as the Awesome Oscillator and (especially) the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator still red, despite the fact that the Stochastic Oscillator's K period has crossed above the D period, exiting an oversold territory, with soft northern trajectory.

I'd expect price to hit 50% at 2.275 again later tonight.