Someone forgot to send the fax to Peercoin (PPC) that altcoins were pumping last year, and unfortunately the bleeding might continue further. BTC-e alts like PPC, NMC, NVC are in roughly the same price trends though their momentums are a bit different. PPC has tend to lead the group in the past and if so the Weekly chart says the possibility of more downside is very real.
Every other time the price forced the StochRSI below 50 it has pushed down to oversold and reset. A spike below support would be a great buying opportunity, why? The price has been falling in a descending wedge therefore the probability of an eventual rally is high. This is no trade to rush into. But the long term trader will want to place some low bids to take advantage of a 2x bounce, or a 4x bounce if it breaks out on the next trip up to oversold.
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