The idea behind the Namecoin is great, it supposes to act as a decentralized DNS, but unfortunately, this project hasn’t been very popular lately.
Namecoin has attempted to establish a long-term uptrend and since March has been moving up sharply gaining over 1000% profit. But a sharp uptrend turned into a sharp downtrend, and since June Namecoin is going down. In 4 months it already lost 70% moving from $3.8, down to the current price which is $1.11.
So when is the time to buy Namecoin? Currently, it doesn’t seem like a good time as there are no signs of the change in trend. NMC/USD moving down while rejecting the downtrend trendline and 200 Moving Average. At this moment everything is in favor of the continuation of this tendency.
Perhaps buying opportunities will present themselves when/if Namecoin reaches and rejects one of the downside targets. First target $0.86 – 161.8% FibS, and second $0.23 – 227.2%.